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Non Profit Board Wanted Better Financial Reporting and Insight Into The Financial Status and Viability of The Agency. 

Non-Profit Needs to Improve Board Level Financial Information

The Board of Directors of a non-profit agency wanted better financial reporting and insight into the financial status and viability of the agency. 
Challenges:
  • Financial statement preparation was outsourced and not being reported in a timely manner.
  • The Executive Director found the statements difficult to understand.
  • The agency had consistently been losing money and was running out of reserves.
  • The long-term sustainability of the agency was in question. It was unknown how long the agency could survive.
Solution
  • A Fractional (part-time) Lauber Business Partners CFO was engaged to work with the office manager to bring the outsourced accounting function back in-house.  
  • Financial statements were revised into a meaningful and understandable format and were completed in a timelier manner. 
  • Lauber Business Partners, Inc. CFO worked closely with the Executive Director allowing her to gain a better understanding of the financial workings of the organization.
  • Historical and forecasted financial information was presented at all board meetings. 
What this meant to company
  • When presented with thorough and easily understood financial information, the comfort level of the board increased dramatically.
  • A realistic picture of the financial status allowed the board to strategize about the mission and alternatives regarding the agency’s future.
  • Normalized operations allowed the Agency to operate for over two years before they negotiated a merger with a larger agency that shared a compatible mission.
  • As part of the merger, all obligations were satisfied, and all employees retained their jobs.
The value of a Fractional (part-time) Lauber Business Partners CFO:
  • Extensive domain expertise in senior financial position.
  • A trusted advisor to CEO on many matters.
  • Looks at business through perspective of maximizing competitiveness and long-term enterprise value.
  • Extended tenure with clients helps develop stronger financial and business acumen across client’s leadership team.
​
Engage a seasoned Chief Financial Officer with extensive skills, experience and strategic insight without paying the premium salary commanded by a full-time CFO. For more information please contact Lauber Business Partners, Inc. at 414-273-8060 or [email protected].
Lauber Business Partners, Inc.
Finance and Accounting
Human Resources
Leadership and Team Development
Executive Search
Nonprofit Management
Dedicated Recruiting Services
Contact
839 North Jefferson Street, Suite 200
Milwaukee, WI 53202
414-273-8060
[email protected]
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  • About
    • About Lauber
    • Leadership
    • Client Testimonials
    • Industries We Serve
    • Join Lauber
    • Pets of Lauber
  • Services
    • Finance & Accounting >
      • Financial Leadership
      • Chief Administrative Officer
      • Outsourced Accounting Services
    • Human Capital Solutions >
      • Human Resources
      • Leadership Coaching and Team Development
      • Talent Acquisition >
        • Executive Search
        • Dedicated Recruiting Services
        • Contingent Search
    • Nonprofit Management
  • How We Deliver
    • Fractional Leadership
    • Interim Leadership
    • Consulting
  • Thought Leadership
    • Blogs
    • Case Studies
    • Media Mentions
  • Contact