Accounting for Tomorrow is an accounting and advisory services podcast for community leaders with a passion for change, who are ready to look past the numbers and ensure that today’s planning efforts create success for tomorrow.
Season 2: Episode 12: How Capital Campaigns Can Help Your Nonprofit Achieve Its Mission
In this episode, we welcome our special guests, Erin Anderson, Executive Director of the Idaho Botanical Garden, and Cheryl Guiddy, Nonprofit Industry Lead at Harris. Learn how successful capital campaigns are helping nonprofits meet their future goals, and the importance of an organized structured plan, which often begins years in advance. Cheryl brings her insight into crucial accounting considerations, and Erin also shares the exciting future expansion plans for the Idaho Botanical Garden.
Show Notes:
00:35 Introduction and Guest Introductions
01:46 Overview of capital campaign and why nonprofits use them
03:00 Idaho Botanical Garden's impressive plans for expansion
09:37 Capital campaign phases
11:40 Financial accountability and transparency
17:45 How to help your board and staff understand the financial data coming in
20:43 Best piece of advice for nonprofits looking to do a capital campaign
Links:
Idaho Botanical Garden Website (https://www.idahobotanicalgarden.org/)
Erin Anderson's LinkedIn (https://www.linkedin.com/in/erinandersonibg/)
14 May 2024
Season 2: Episode 11: Navigating the Corporate Transparency Act
In this episode, our host, Josh Tyree introduces Brittany Mergan, CPA of CTA Compliance, the preferred provider for helping our clients comply with the new Corporate Transparency Act requirements. Along with our partner at Harris, David Hutchison, EA, they address key aspects of the Act, help define the types of owners that will be required to report, deadlines for reporting, exemptions, and tips for multi-entity owners.
Show Notes:
00:35 Introduction to the Corporate Transparency Act (CTA)
01:24 Current Status and Legal Challenges of the CTA
02:47 What is Beneficial Ownership Information (BOI) and the role of FinCEN?
04:20 Who needs to file and what do I have to submit?
05:10 Consequences of Non-Compliance with the CTA
05:59 Defining ownership interest, and the effect on spouses
10:08 Deadlines for reporting
11:42 Defining reporting applicants and their responsibilities in reporting
13:20 Clarifying requirements for Single Member LLCs or Sole Proprietors
16:33 Tips for multi-entity owners
Links:
Questions on CTA Compliance, contact info@ctacompliancellc.com
Brittany Mergen's LinkedIn (https://www.linkedin.com/in/brittany-mergen-cpa-10abaa82/)
David Hutchinson's LinkedIn (https://www.linkedin.com/in/davidahutchisonea/)
David Hutchison's Biography (https://harrisgroupadvisors.com/our-team/david-hutchison/)
10 Apr 2024
Season 2: Episode 10: The Art of Cash Flow Management: A Controller's Perspective
In this episode we welcome our guest, Gina Vinci, Controller at McMillen, a leading engineering and construction firm. Gina helps give a greater understanding surrounding the complexities of managing cash inflows and outflows effectively, the importance of leveraging banking relationships, and the critical role of forecasting to help in meeting organizational goals. Discover practical tips for mastering cash flow management in diverse business landscapes.
Key Highlights:
01:38 – What cashflow management means from a controller’s perspective
02:14 – How receivables (AR) and payables (AP) impact your cashflow
04:52 – The nuances of cashflow in the construction industry
05:50 – How subcontractors and contract payment terms tie into managing cashflow
09:27 – Leveraging strategic banking relationships
12:07 - The importance of a strong balance sheet to support cashflow
3:08 – Monitoring backlogs and burn rate
15:00 – Using historical cash flow to help forecast
16:43 - Continuous cash flow monitoring and planning
17:41 - Aligning to leadership’s strategic goals
19:51 – How banking and CPA relationships can assist with cashflow strategies
Links:
Gina Vinci's LinkedIn (https://www.linkedin.com/in/ginavinci/)
McMillen Inc's Website (https://www.mcmillen.com/)
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