Indianapolis Group is Helping Nonprofits With Accounting Needs
2023-12-10 – BE&O A&B
Many local nonprofits find themselves vastly understaffed and underskilled when needing to address complex accounting and financial needs. One local organization is working to help fill that gap.
Mission Management is a service provided by the Indiana Youth Services Association (IYSA), and it is a social enterprise that leverages the financial management talents of IYSA staff members to assist nonprofits with their bookkeeping, budgeting, and business/strategic planning.
Surekha DiOrio, IYSA CFO and Executive Director of Mission Management says many nonprofits are hesitant to outsource their accounting needs. Still, the benefit of doing so could help organizations fulfill their mission, especially since IYSA charges below-market rates for their Mission Management services.
DiOrio also says comprehensive and accurate accounting reports help a nonprofit board get a clearer picture of what is taking place inside a nonprofit. And since a large portion of nonprofit revenue comes from grants and private donors, who often restrict when and where money can be spent, it is important to be as lean and efficient as possible. “In every possible way, we should be as efficient as we can,” DiOrio says.
Nonprofit donors want to know that their contributions are being used toward the organization’s mission, and good accounting may even loosen up funds from donors. DiOrio says it’s all about being a good steward of other people’s money.
In addition to helping with critical functions such as payroll and tax liabilities help, Mission Management services help nonprofits with more complex tasks like documentation retention and fair-wage reviews for nonprofit staff members.
IYSA touts Mission Management’s ability to leverage business assets while tailoring any particular service to the needs of an individual nonprofit.
Mission Management also helps with IT support, website design, HR support and training, and marketing and sales strategies to further support nonprofits.
To learn more, visit https://indysb.org.