Navigating the relationship between nonprofit accounting and development departments. With a focus on collaboration and understanding, how these two essential facets of nonprofit organizations can work harmoniously for success, with our guest, Patricia Withington, Director at Your Part Time Controller (YPTC.com).
Patricia emphasizes the necessity for alignment between the accounting and development departments, debunking some common misconceptions and highlighting the symbiotic nature of their roles. “I think both sides actually complement each other,” Patricia explains, “When you think about it, you know you have the perspective of the left brain, right brain and your right brain is you’re creative, you’re spontaneous, you’re emotional. That’s your Rd. You need them.”
Patricia shares actionable strategies for bridging the gap between accounting and development, such as implementing standing meetings, fostering a culture of shared knowledge, and leveraging external resources like grant opportunities and training programs.
She goes on to address the challenge of resource allocation for smaller nonprofits, offering guidance on when to consider outsourcing financial tasks and the optimal timing for bringing in external support.
Throughout the discussion, Patricia reminds us of the key significance of financial stability and transparency in attracting funders and sustaining nonprofit operations. “It’s such a collaborative effort… Everyone understands the overall mission of the organization,” Patricia adds, “You just bring it back home, bring it to why you’re there and all that other junk, it goes away.”
By aligning financial management with organizational objectives and involving both accounting and development teams in the process, nonprofits can enhance their effectiveness and achieve their mission-driven goals. Watch and learn more!!