Have you been feeling overwhelmed with the list responsibilities that you may have? Do you and your staff feel like you’re putting on too many different hats each day, some of which you have no experience with? If so, then you need to consider outsourcing for nonprofits.
Outsourcing is simple: it provides your nonprofit with the opportunity to obtain the experienced help it needs within sectors such as accounting, operations, and IT.
All without paying for an in-house employee.
There are many different perks of outsourcing for your nonprofit. Be sure to see below for more details on the benefits of outsourcing different needs that your nonprofit organization has.
1. Less on Your Plate
As the owner of a nonprofit, you might have to don many different hats throughout each workday.
At times you could be performing executive duties, operations, accounting, IT, marketing, and more. It’s hard to balance all of these duties, and on top of this, delegate them as well as provide these tasks with the attention that they deserve.
In fact, the more that find yourself balancing them all, the less effective they’ll all be. That’s when it’s helpful to outsource certain responsibilities to give yourself a free hand.
For example, some of you might consider accounting to be a weakness for your nonprofit organization. Turn that weakness into a strength by outsourcing those needs to a professional accounting service for nonprofits.
Now that your accounting is in the hands of a trusted and experienced professional, you can maximize your time on things like operations and marketing your brand.
2. Professional Expertise
One of the hardest parts of running a nonprofit is feeling like you’re doing the organization a disservice with your inexperience.
If you don’t have a volunteer or staff member with expertise in a certain area, such as accounting, then your nonprofit might suffer as a result.
By hiring a professional accounting service, you’re getting your brand in connection with one of the best in the business. They’ll have experience with bookkeeping and accounting, which will help your nonprofit put a name to every dollar you receive.
Some accounting services also have certified public accountants (CPAs) that are well-informed on the obstacles that a nonprofit faces.
They can audit your current accounting set up to protect your organization from fraud and improve your internal controls and cash flow.
3. Reduced Costs
At times, it can feel like your nonprofit’s growth is at the mercy of whatever funds you receive from donations. There will always be a need to reduce costs in as many different ways as you can.
One of the largest costs that your nonprofit can undergo is hiring an in-house employee for your needs. Statistics have shown that paying an employee a $50,000 salary can actually cost you anywhere from $75,000 to $100,000 a year.
“Outsourcing can be a tremendous option…it can offer you the chance to learn from experienced professionals that want to see your nonprofit grow and thrive.”The Charity CFO, LLC
Any time that you have an issue, just bring it to their attention and they can offer you several solutions on how to handle it.
Even though you have a significant need to hire an in-house accountant, it might not be the answer. Instead, outsourcing allows you to get access to an experienced professional without paying the true cost of hiring an employee.
There’s no necessary onboarding, no training that needs to be done. Simply ask around for different quotes on the service, find one that gives you the highest return on your investment, then hire them.
4. Thorough Explanation of Solutions
Plain and simple: you’re looking to outsource because you need to save money but get access to experience. You need someone that won’t just do the job, but can help you understand it for future reference.
Outsourcing can be a tremendous option for that. It can offer you the chance to learn from experienced professionals that want to see your nonprofit grow and thrive.
They can put difficult accounting aspects into layman’s terms that you can understand. That way, you’ll have a better idea of how to match donor’s requests and delegate donations that don’t have specific requests to them.
Initially, you’ll send an email to the accounting service telling them about some of the major issues you’re having. From there, they’ll schedule a time to sit down and discuss ways the service can help you resolve those problems.
Outsourcing allows your nonprofit to grow business relationships with experienced professionals that have your best interests in mind. Not just an in-house employee that’s looking to collect a paycheck.
5. Easy to Scale
Five years from now, your nonprofit isn’t going to look the same as it does today. It’s going to grow and expand in ways you never imagined.
If you hire in-house employees for your needs, then you’ll have to add more to your team to keep up with the growth. However, by outsourcing your accounting needs, you’re supplying your organization with a service that can grow with you.
Outsourcing is very scalable. The more needs that you have, the more services they can offer to meet them.
They’ll be able to help your company adjust to the growth in your budgeting, payroll, donor requests, fundraising, billing, and reporting. They can also protect your organization from fraud while it grows.
Consider Outsourcing for Nonprofits to Help Your Organization Thrive
Now that you have seen several benefits of outsourcing for nonprofits, you must find the right accounting service to join forces with.
Are you looking to model your nonprofit after the best? If so, then read this article for more information on the 7 characteristics every successful nonprofit organization has.
For more inquiries, please be sure to reach out via our contact us page and we will be happy to assist you further!