RDM ASSOCIATES UNDERSTANDS
THE STRATEGIC CHALLENGES FACING NONPROFITS
The economic crisis resulted in cutbacks in funding and donations, forcing many nonprofits to reduce services and administrative costs. The lack of relevant financial data and cash forecasting can leave management with the inability to make proactive decisions.
A nonprofit organization has to illustrate the value of its mission to grantors and donors, as well as demonstrate its ability to spend program funds wisely in line with that mission. Federal and Agency grants impose new, higher standards for management, including internal controls and financial report documentation. Often a nonprofit entity cannot afford the financial expertise to satisfy these more stringent documentation, program tracking and financial requirements.
Nonprofit accounting departments sometimes lack the expertise to complete complex cost allocations and multi-dimensional cost center reporting. Staff turnover and absences in the accounting department can lead to increased training costs, inconsistent production, and poor morale. Without an end-to-end finance and accounting system in place, efficiencies are lost, opportunities are missed, and threats go unnoticed.
Nonprofit executives find it difficult to effectively hold managers accountable. The budget process is heavily centralized around their accountants; monthly reporting across managers is nonexistent or limited – they are out of the information loop. This results in leadership’s inability to establish and enforce accountability. When accountability is absent, procedures fail and policies are ignored.
The need for flexible, highly accessible and expensive technology is ever-increasing, adding to the need for higher levels of IT support and staff training. Accounting systems are costly to maintain, manage, and upgrade, leaving many nonprofits to keep old, ineffective legacy systems in place.
is becoming significantly more complex with recent changes in the federal OMB Circulars and FASB accounting standards. Since the last major standard changes occurred nearly 20 years ago for nonprofits, many accounting departments may be ill-equipped to interpret and implement these standards.
Boards of Directors play a critical role in determining mission direction and require financial information that includes analytics and insights beyond standard reports.
THE PROVEN RDM ASSOCIATES MODEL
IS THE SOLUTION TO YOUR CHALLENGES
The RDM Associates team members are customer-driven professionals who hold your organization’s goals paramount in every action taken. We are focused on generating value and providing solutions that help leaders concentrate on core mission and strategic objectives.
RDM Associates understands that achieving financial stability and predictability is critical to ensuring the success and perpetuity of a nonprofit organization. Our team of CPAs and seasoned accounting staff has a track record of achieving significant financial and business improvements for our clients. We have the tools and expertise to manage daily accounting transactions, deliver relevant financial reports, and provide cash flow analysis and forecasting so that cash is utilized in the most effective manner. We’ll also keep your books audit-ready at all times.
RDM Associates uses technology at each step of its processes to leverage time and resources and produce superior outcomes. Your organization’s financial system is housed and managed on our servers – eliminating concerns about upgrading costs related to legacy software systems and server maintenance.
RDM Associates’ customized “InSight” cloud portal serves as a powerful, centralized hub for:
Budgeting & Reporting
“InSight” provides executives with a tool to establish manager accountability, which is at the heart of empowering people to perform well, demonstrate initiative, and act responsibly.
The solid internal control structure and processes utilized by RDM Associates ensure that your organization’s financial risks are minimized from day one. As your organization grows, we continue to monitor the effectiveness of those financial internal controls and implement necessary changes without skipping a beat. By applying our proven techniques to either common or complex accounting tasks, we achieve high levels of efficiency, dependability and accuracy in all functional areas.
From standard Statements of Financial Position/Statements of Activities and Changes in Net Assets to sophisticated, tailored management reports, we provide Board members, executives, and management teams with the vital statistics needed to operate a successful organization. Our custom reporting capabilities greatly exceed the norm.
As a strategic partner and services provider, RDM Associates’ deliverables run the gamut from simple bookkeeping tasks, to robust accounting services, to top-tier financial modeling.
…By hiring RDM Associates, managing those issues became their responsibility and freed us up to maintain our focus on our mission and serving clients. They bring the staffing, capacity and skills to help manage our finances and in partnership enhance our financial acumen.
RDM ASSOCIATES: A PARTNER TO HELP YOU ACHIEVE YOUR ORGANIZATION'S STRATEGIC OBJECTIVES