It’s here. The age of the virtual workforce.
 
Most of us are working from home right this second (thanks, COVID-19). And, this requires access to technology that is reliable, integrated, safe and cost-effective.
 
Recently our CEO, Chantal Sheehan wrote a guest feature article for Bill.com that shares one client’s story about maintaining operations during the global pandemic. This client, whose programs include microfinance, education, food, health care, and social support to orphans and women in East Africa, recently revamped their hiring practices and wanted to source talent and services anywhere in the world. But this presented some challenges in terms of payment fees and internal controls. “What is the best way to pay an international vendor?” they asked.
 
In the full article, International Payments for Nonprofits Made Easy, our CEO explains that this client’s success is possible because they’re using the latest and greatest financial technology. Plus, they recently implemented (per our recommendation) the international payments feature on Bill.com which offers these 4 key advantages:
 
1.Maintain a consistent audit trail and internal controls.
2.Save big on bank and wire transfer fees.
3.Save even more by paying in local currency.
4.Keep vendors happy with secure, accurate bank data collection and wire/payment codes.
 
Our full article gives specific details and examples. It’s a must read!
 
Then, give Blue Fox a call at (321) 233-3311 or email us when you’re ready to “virtualize” your back office operations. When that’s taken care of, you can focus on what really matters: your mission and serving your community.
 
Related Articles
Nonprofits - It's Time to Automate Your Back Office
How to Make Your Nonprofit Recession-Proof
10 Reasons to Outsource Your Nonprofit Accounting

Did You Hear? 
An expansion of the PPP loan program was signed into law early June? 
The Paycheck Protection Program Flexibility Act eases restrictions on how nonprofits and small businesses can spend their PPP funds. Here's a brief summary of the changes from the National Law Review. We also put together an easy-to-read #foxtastic chart of the major updates below.

If your organization could use some guidance, give us a call at (321) 233-3311 or email hello@yourbluefox.com. We’re here to help. That’s what we do! 

I’m over it.
 
COVID-19.
The deaths.
The sickness.
The fear.
The grief.
The politics.
The injustice.
The media.
The government screw ups.
The lockdowns.
The conspiracy theories.
The economy.
The unemployment rate.
The PPP.
The food supply.
The feeling of loneliness.
The worry. About everything. All the time.
The hoarding.
The sickness.
The deaths.
Oh look, murder hornets.
WTF.
 
I’m so over this s#!t. I know you are, too.
 
That’s why I’ve decided it’s time to break up with COVID-19.
 
As leaders and business owners, we have a job to do. Yes, we must acknowledge and accept the reality we now find ourselves in, but we can’t afford to lose touch with each other and perhaps more importantly, ourselves. We can’t afford to sacrifice today and tomorrow’s opportunities because a virus just gave the world a horrible, epic swirlie and we’re glued to a device watching things fall apart.
 
It’s time to break up with COVID-19.
 
This is a defining moment in time, no doubt. How will this moment come to define you?
 
Remember: we have work to do. We must get up every day, lead our teams, take care of our families, and provide services and support to communities and people who rely on us. (And hopefully, find toilet paper somewhere in between.)
 
Need inspiration, or a reminder of why your work matters? Here’s a sample of the amazing things our clients have been up to – also known as why we get out of bed every day:

• STARability, Naples, FL: A quick, effective pivot to virtual programming for adults with developmental challenges gets picked up by the news [VIDEO]

 

• Zawadisha, Kenya: 12 women make 1,500 masks for their community in 2 weeks [INSTAGRAM]

 

• Together Bay Area, Berkeley, CA: A simple survey of their members – land trusts, conservation organizations, natural resource managers, and indigenous groups – turns into huge advocacy leverage. Their 24 members estimate Together’s coalition could advance investments in green infrastructure to the tune of 10,500 new jobs across 10 Bay Area counties, improving the environment and access to nature for 7.7 million people [PDF]

 

• Nyaka, Michigan/Uganda: Releases first full-length documentary – award winning, truth-telling, INSPIRING, and streaming free [VIDEO-40 min]

 
What are you up to? Let us know and we’ll give you a shout out, too. We’re in this together.
 
Still in bed? Still feeling blue?
 
Let’s throw all the damn clichés in here at once and snap the hell out of it:
 
Stay positive.
Breathe.
Just keep swimming.
Be in the moment.
Enjoy the little things.
Hug someone.
Or tell someone you wish you could.
Fix something you can fix.
Clean something you can clean.
Make a good meal.
Then give it to someone else.
Rethink your career.
Consider your long-term plans for your business.
(Make a long-term plan for your business.)
Plant a garden.
Plant a tree.
Talk to your neighbors.
Walk.
Run.
Cycle.
Breathe again.
Dream big.
Innovate.
Cogitate.
Adapt.
Improvise.
Thrive.
 
You’ve got this.
 
Here are some of our favorite resources right now for moving on and moving out of crisis mode.
 
Those of us who successfully break up with COVID-19 and end our internal toxic relationship with all that it brings will be better for it in the end. I know that sounds trite, naïve even. But it’s a hallmark of human experience that when disaster or tragedy strikes, we evolve in response. The exceptional among us turn horror into beauty, discord into order, and brokenness into wholeness.
 
Join me. Say sayonara to this stupid virus.
 
Become a stronger, better, more flexible, adaptable, sustainable person, and then empower and support those around you to do the same.
 
I’m with you.
 
Virtual Hugs,
Chantal

As some states like our home base of Florida begin to re-open, nonprofit teams are putting their minds together to draw a new map for the future. A map of how to survive, keep a positive mindset and continue to provide critical services in their community.
 
Our team at Blue Fox has been intently reading and listening to the advice of our peers and advisors on how social good organizations can move forward with fundraising, communication, service delivery and respectfully re-opening their doors? Here is what we think are the most valuable resources on the digital streets. 
 
Leadership
Fast Company: 8 critical lessons leaders need to emerge from the COVID-19 crisis
CLA Wealth Advisors: Financial Leadership in the Face of Impossible Choices
Beth’s Blog: Five Tips for Nonprofits to Avoid Virtual Fatigue
 
Funding & Budgeting
Intuit: PPP Loan Relief Eligibility Calculator
Bloomerang: Ask An Expert – How to Balance Your Nonprofits Budget in a Crisis
Nonprofit Tech for Good: How Your Nonprofit Can Recruit & Retain Digital Sponsors (Webinar June 9)
 
If This Doesn’t Make You Smile…
BuzzFeed: 14 Animal Cams That Are Better Than TV
Today: Jimmy Fallon's giggling daughters take over his Ethan Hawke interview
MSN: Georgia teacher running more than 50 miles to visit each student outside their homes
 
Tax Info
IRS: Deferral of employment tax deposits and payments through December 31, 2020
 
Re-Opening
Florida Nonprofit Alliance: Best Practices and Considerations for Nonprofit Re-Engagement
U.S. Chamber of Commerce: State-by-State Re-opening Guidance
 
We’re with you!

Have you ever considered outsourced accounting services for your nonprofit? It can seem overwhelming at first to tackle all the moving pieces: getting your board of directors on board, choosing a provider (firm), preparing data and software for a transition, and finally the transfer of responsibilities and information. That’s why our team at Blue Fox put together this helpful guide to ease your mind: How Client Onboarding Works with Blue Fox. It’s an overview of our philosophy, team, and onboarding process from the very start of our relationship.  
 
We aim to make client onboarding as seamless (and stress-free) as possible. Our goal is to get your back office financial operations up and running in the most efficient way.  Simple as that! Then you can focus your time on bigger and better tasks like fundraising, public relations, events, and strategic planning.
 
Take a look at our guide today! It will explain: 

• Questions to ask yourself to determine if it’s time to outsource
• 10 reasons to outsource your nonprofit accounting (see our infographic)
• About our Founder and our philosophy on client relationships
• The relationship between our team and yours
• How the 4-week onboarding process unfolds
• Our five pillars of service

 
We would love to hear from you!
 
Feel free to contact us with questions about the onboarding process, for a pricing inquiry, or just to chat.
We exist to help nonprofits build stronger, more sustainable organizations. Now that’s fox-tastic!

Here we are. April 2020 and working our way through a global pandemic. March seemed like the longest month in history. April probably will, too.

So while you're staying home and working out what's next for you and your nonprofit, here are some thoughts on how to manage the next several weeks thoughtfully, fairly, and with a mindset of stewardship and sensitivity to all involved.

We don't know yet what our new normal will look like, but we can still approach this strange and unforeseen situation with equity, transparency, and strategy.

Here are my suggestions on how to do that.

(1)  In general, the board, which must act as a fiduciary body, is well within its purview to work with management and:

• Strongly advise on executive salaries, staffing levels, and recommended salary reductions
• Review current monthly spend/burn rate and recommend budget revisions that eliminate non-critical spending, like travel and meals, for example (perhaps even pass a revised budget)
• If there is a finance committee in place, that committee should take the lead. If not, work closely with your board treasurer and chair instead.

(2)  Do do your best to rally resources and financial support:

• It’s time to rally your individual donors. A cohesive, deeply personal approach to donors who have given $500+ in the last year, is required. For major donors, asks for emergency funds, or commitments, are key. Now is the time to remind folks why your org matters. Time for phone and video calls. Time for storytelling and building on the bonds that folks already have with your organization. Emails should be the last resort – regular phone call touches are a better bet.
• Devote some of the development staff to looking just for emergency funding.

(3)  Review year to date spending and create a cash flow forecast to assist with decision making:

• With the 1st quarter nearly ended, you will have a good idea of core operating expense trends.
• Have an honest conversation with board and staff around what initiatives should be tabled or delayed, and what core activities must continue.
• To assist with those considerations, I strongly recommend a cash flow model be put together so you can run different scenarios. 
• The forecast would need to take into account the anticipated donations/grants, and large anticipated expenses that are core to operations in order for it to be meaningful.
• You can then run scenarios which take into account the timing of things like salary cuts so you can see the impact on cash flow clearly over a 12-18 month period.
• And yes, you do want to look at a time period of at least 12 months. The long-term impacts of coronavirus should be expected to be deep and persist well into the next fiscal year.

(4)  In terms of communicating expectations and plans to staff here’s what I recommend:

• In order to prevent anxiety and uncertainty, which leads to low morale and poor efficacy, provide your team a timeline when decisions will be made. This transparency will go a long way to calming folks in most cases.
• Examples:
• By April __, we will let you know about any changes in staffing that we may have to make.
• We are considering strategies like ___-___% reductions in salary in __ weeks if [XYZ happens]
• If by May 1, XYZ happens, we will then move to a __% reduction in salary.
• We are committed to supporting you and your families as much as we can during this difficult time, etc., but we are also obligated to support our mission as best as we possibly can.
• In the worst case scenario, state unemployment coverage is being expanded and employees should be directed to those resources when/if they are let go.
• Understand, however, that if you receive any funding from the Payroll Protection Program, the amount of the loan that may be forgiven will be reduced if changes to staffing levels or payroll are made and not reversed by June 30.

​We're with you!

Chantal Sheehan, Founder & CEO, Blue Fox - Agile Accounting

​Nonprofit organizations are famous for running lean when it comes to budget. But gone are the days of sacrificing service quality for cost. Here’s the secret (and it’s not so secret anymore). It’s outsourcing. A way for nonprofits to maintain control of costs AND benefit from high quality financial back office management.
 
With advanced cloud-based systems and virtual technology, outsourced financial services are more affordable and attainable than ever for nonprofits. It’s a win-win, especially if you partner with a company like Blue Fox (that’s us) that tailors service to the social impact sector. We employ experienced nonprofit gurus to get the job done – whether it’s virtual CFO service, controller-level oversight, bookkeeping, payroll, tax preparation, or financial coaching, outsourced service providers can provide you the insights and information you need at a fraction of the cost of an employee.

​Be transparent.
Build trust.
Strengthen relationships.
Raise more money.
Repeat.
 
There you have it: the secret to nonprofit success!
 
If only it were that simple, right?! The most successful development professionals and their nonprofits spend years building trusting relationships with their donors. Trust is not easily earned and it’s as fragile as glass. But did you know that new research shows that financial transparency is key in the trust-building process? Donors who see the financial impact that their funds make on your mission are more likely to give again.  So, why do so many nonprofit organizations only share financial data internally? Did you know that sharing financial data with donors can change the fundraising game for your organization?
 
Here’s the research to back it up: the Give.org Donor Trust Report and research by GuideStar prove a positive correlation between organizational transparency and donor giving.  When the first goes up, so does the other.
 
So, what does it mean to be transparent? What can you do to infuse transparency into your organization?
 
Our team at Blue Fox created a step-by-step guide to guide you through this transformative process. And our recommendations are not as abstract as you might think.
 
Here’s what we know: Donors want to see the impact of their dollars. They need to know each and every penny (hey, that’s our mascot’s name!) is leveraged to its fullest. They want all the feel goods that come from giving to their passion. So, let’s show them!
 
Here’s what you do…
 
6 Steps to Build a Transparent Nonprofit Organization:
 
Step 1:
ORGANIZE: Your Financial Systems & Information
Honesty is the best policy. This is especially true when it comes to the financial data you share with your board members, staff, committees, donors and the community as a whole. Only share financial information if you’re 100% sure it’s accurate. Start here:

• Make sure your books are up to date.
• Streamline processes to ensure anyone with access to financial information is entering data in a consistent and accurate way.
• Consider hiring an outsourced accounting firm (like us) to seamlessly manage your back office or to simply complete an comprehensive review of your financials (You can bet that GuideStar’s team will be doing a deep dive review of your financials if/when you apply for their Seal of Transparency).

 
Step 2:
TEACH: Educate Your Staff & Board
Whether you realize it or not, your entire internal team (staff and board members) are walking, talking promoters and fundraisers for your organization. It’s time to educate them on the innerworkings of how the organization operates, the current state of the financials and future needs. Educated employees are empowered employees. Now that your financials are squeaky clean, use them to mobilize your team:

• Review financial statements at staff meetings (you’ll be shocked how this can motivate people)
• Use dashboard style reports at board meetings to get their attention.
• Analyze financial information with your team to reveal what the data is telling you

 
Step 3:
PROVE: Your Credibility, High Standards & Stewardship
You’re on the way to financial stewardship excellence and it’s time to prove it. Disclaimer: this step may take some time but it’s worth it. Keep your eye on the prize and remember that checking these boxes will build the foundation for your new level of transparency. This is the step where you generate the powerful content for your future public relations efforts (steps 5 and 6).
 
(1) Certifications, accreditations and memberships are a sure-fire way to boost your credibility and legitimacy (a.k.a. trust) in the eyes of donors.

• GuideStar Seal of Transparency
• Mission-aligned accreditations
• Memberships with professional alliances
• Personnel certifications (Ex. Nonprofit Leadership Alliance NCP)

 
(2) Schedule a brainstorming and analysis session with your team. It’s time to build a financially data-driven list of your organization’s accomplishments and future goals. What do we mean by data-driven? Use your financial data to frame your story (percentages, numbers, benchmarks). Some of these might seem basic, but many organizations overlook them:

• Our fundraising events cost $____ per attendee
• We are 85% funded to launch XYZ new program
• Our overall budget grew by X% last year allowing us to serve X# of more…
• If we want to bring in $____ in money next year, it means either raising program fees to ____ or getting XX donors to give at $____ level or higher

 
Step 4:
ALIGN: Your Funding Needs & Systems
Okay, so you’ve got ducks in a row internally. You know where you’ve been and are excited to tell the world where you’re going, with data to back it up! But, wait! There’s one more step before you can package the information and shout it from the roof top. Make sure to coordinate your fundraising efforts with your marketing messages. Ask yourself these questions:

• What are your most pressing funding needs based on your data?
• What funding requests in the pipeline will appreciate your new transparency-based communications? Do not miss this opportunity to ask for support!
• Do your donors receive follow-up communication after making a contribution and how can you integrate transparency-related messages?

 
 
Step 5:
DEVELOP: Your Key Messages & Marketing Collateral
It’s time to call in the marketing team! (If you don’t have one, consider trading sponsor visibility with a local agency.) This is when you compile your data-driven information, accomplishments, accreditations and certifications in an easy-to-digest manner (everything from step 3). Here are some suggestions:

• Write a press release
• Create an infographic
• Create graphics
• Write blurbs and summaries
• Create a visually-appealing annual report

 
BRING IT HOME: Your primary messaging goal is to show that you’re a financially responsible, trustworthy organization that uses every dollar raised to provide services to your community. Always bring your messages back to how donors are making an impact. Use the data to tell a story and don’t be afraid to pull some heart strings.
 
Step 6:
PROMOTE: Publish, Send, Schedule, Post, Share, Spread the Word!
It’s time to publicize the whole kit-and-kaboodle. You’ve prepared all of your data-driven key messages and connected them to fundraising appeals. Now it’s time to spread the word:

• Share information on your website
• Send your press release
• Communicate with email subscribers
• Integrate your messages into event announcements
• Hold an event to celebrate a major accomplishment
• Schedule social media posts
• Weave messages into fundraising collateral
• Update signage (for high traffic and even-based nonprofits)

 
If you’ve read this far, congratulations! It takes massive effort and commitment from the very beginning to become a more transparent nonprofit. But the reward is worth the work. Take these steps one-by-one. Eat that elephant in bite size pieces. And, when you’re finished, donors will see your organization as a highly trustworthy and impactful place to invest.
 
And remember, our team of nonprofit financial gurus can provide back office support along your journey. The best time to ask us for help is the very beginning (step 1). Whether you need bookkeeping services or help with financial analysis, Blue Fox is here to help.
 
Your financials have a story to tell. Let’s start listening and telling that story!
 
Authors:
Chantal Sheehan, Founder & CEO, Blue Fox
Chelsea Clementi, Director of Marketing, Blue Fox

Ahhh, fundraising. Is it an art or a science? What’s more important: relationships or branding? Are you following the 80/20 rule? How is your nonprofit adapting to digital fundraising platforms?
 
First of all, can we get three cheers for all the fearless, passionate development peeps in this field? Their work is not easy! And, the path to money-raising success evolves so quickly it can make your head spin.
 
That’s why our team at Blue Fox decided to share some of our favorite resources available on today’s digital streets. These are hand-selected resources we choose based on their depth and insight:

• (VIDEO) 8 Steps to Finding New Donors
• (ARTICLE) 6 Online Fundraising Tools to Watch in 2020
• (WEBINAR) Reboot Your Fundraising Event
• (GUIDE) Corporate Sponsorships for Nonprofits: The Basics
• (CHECKLIST) Ultimate Financial Checklist for Fundraisers

 
Keep in mind that fundraising is just the first step to grow your nonprofit. It’s what you do with those funds (how you manage and leverage them) that’s key to organizational growth. Surprise, surprise! That’s where our team at Blue Fox comes in handy. We’re like a swiss army knife – each service we offer designed to streamline your back office and manage your financials in the most effective way possible. Our CEO likes to say, “It’s not about penny pinching – it’s about a full understanding of the leverage and power in every dollar.”
 
Thanks for stopping by to access our picks for top nonprofit fundraising resources! If you’re interested in hearing more from us, subscribe to our newsletter today! 

If you’re like us, your daily inbox is jam-packed with newsletters and educational opportunities from like-minded social impact leaders. These spectacular humans work around the clock to foster positive change in their communities. Then, somehow, find time to share their story. We tip our hat to them! Here are just a handful of our favorite resources this month:

• (ARTICLE) Learn to Listen: How — and Why — to Gather Employee Opinions at an Impact Company
• (PODCAST STORY) Meet the Female CEO Who Created A Social Enterprise From A Palestinian Refugee Camp
• (TRENDS) These Social Entrepreneurship Trends Will Hit All the Emotions in 2020
• (CONFERENCE) Frontiers of Social Innovation: People, Power & Resources: The Redistribution Wave
• (PREDICTIONS) Five Fintech Predictions For 2020
• (OPINION) ESG (Environmental, Social and Governance) is About Value, Not Values, Says This CEO

 
Thanks for stopping by to explore our picks for social enterprise news this month! If you’re interested in hearing more from us, subscribe to our newsletter today!