YPTC and United Way
We help United Ways identify the key pieces of financial information that matters most to nonprofit leaders; and then provide it to them so nonprofit leaders can make better business decisions.
Focus on United Way
United Ways, like many nonprofits, oftentimes lack dedicated staff with formal finance or accounting expertise and experience. However, it’s vital for United Way executives, staff, and board members to have timely and accurate financial information so they can clearly understand the organization’s financial story.
Who Needs To Know Your Financial Story?
Timely and accurate financial information is key to making business decisions.
As part of the board’s fiduciary responsibilities, they need to know how actual results are trending against the annual budget and the long-term strategic plans.
Donors want to see how and where their support is being utilized, especially when there are donor-imposed restrictions.
New donors research nonprofits through charity watchdog website and directly on organizations website. Providing financial and non-financial information about the organization’s accomplishments and financial stewardship is a great way to bring in new resources.
Decoding Your United Way’s Operating Reserves
United Way Worldwide mandates an annual membership certification, which requires organizations to confirm accountability and adherence to financial reporting standards.
One critical figure requested by United Way is the amount of operating reserves.
“The Accidental Bookkeeper” Is No Longer Enough for United Way
Relying on simple bookkeeping, or an “accidental bookkeeper” (for example, a program director who is tasked with entering transactions into the accounting system because they are good with math) no longer fulfills the complex accounting needs that nonprofits like United Ways require.
Contact Gregg Indictor, Director, and Leader of YPTC's United Way Specialization.
Gregg serves as the Market Leader of our Central New Jersey office and heads the firm’s United Way Vertical. Gregg has over 30 years of experience of hands-on work with for-profit companies, government agencies, and a variety of nonprofit organizations including United Ways. Gregg has developed and presented numerous training programs related to nonprofit accounting and financial management.