The core of Blue Fox’s philosophy is the synergy between technology and humanity – that’s why our tagline is Agile Accounting for Impact. We serve our clients with the best solutions and virtual tools to run their nonprofit organization’s back office with efficiency and excellence.
We listen to the nonprofit buzz every day and understand that tax compliance is a major pain point for many organizations. Queue a new #foxtastic partnership with Avalara.
The team at Avalara lives and breathes tax compliance so your nonprofit can sit back and relax without having to be a tax expert in every state [especially with donors living all over]. Even better, their platform automates the major steps of tax compliance — all in the cloud.
There are so many misconceptions about tax compliance in the nonprofit space. Here are three major areas of confusion:
So, why did our team at Blue Fox partner with Avalara? That’s simple: their services take care of nonprofits by limiting tax risk and building efficiency through automation and integration with Quickbooks.
If you’re interested in learning more, let us introduce you to the tax experts at Avalara. Send us an email at email@example.com email.
Want to learn more about who benefits from sales tax automation and how it can save time and money? Check out the free guide below with answers to your most important sales tax automation questions.
We are partnering up with our friend Cathy Allen, The Board Doctor, to share a free Wellness Test for nonprofit board members.
Have you ever been at a flea market or street fair and come across the booth run by the local health department? They are offering free tests: blood pressure, blood sugar and cholesterol, BMI calculation, etc. This kind of screening does not catch every malady, but it can detect some of the most common health-related issues. It also comes with a brochure or two about the signs and symptoms of trouble ahead and how to know when to consult a doctor.
That is the thinking behind The Board Doctor's Wellness Test with 10 questions designed to provide a snapshot of how well a nonprofit board of directors is functioning in its governance role. It is offered free through The Board Doctor's website and comes with an optional complimentary debrief phone call or video chat to review results and plan potential next steps the board can take as it seeks to get better.
The Wellness Test includes two questions on legal compliance, three questions on the board's role and responsibilities, three questions on board structure, and two questions on fiduciary responsibility. The responses are then automatically scored and emailed to the test taker, along with some explanatory information. Test takers are also able to schedule their optional free debrief meeting. (Note: participants are NOT put into a sales funnel. We figure you'll find us when and if you need us, so we have no need to spam people.)
Take Me There! [Click here]
Another reason to take The Board Doctor's Wellness Test: you can help advance knowledge of the nonprofit sector. Throughout 2021 we are gathering data (anonymously and confidentially) for use as part of a research study comparing the governance practices of some kinds of nonprofits with other kinds of nonprofits.
At the end of the ten Wellness Test questions are three optional questions that will help us categorize different types of nonprofit organizations. Results will be available next year, along with benchmarking for future takers of the Wellness Test.
Those ready to undertake a more thorough exam are encouraged to explore The Board Doctor's Annual Checkup: A Board Governance Self-Assessment, a paid service that can involve the entire board, comes with or without a boardroom presentation of results, and includes exclusive access to The Board Doctor's Patient Portal, with curated resources and information about each of the Checkup's 100 items. Want to just talk it through? Set up a free initial consultation.
So, when it is time to find out for sure whether your board is on the right track or needs to make some adjustments, The Board Doctor is here for you!
To learn more, visit The Board Doctor’s website or email Cathy at Cathy@TheBoardDoctor.org.
At Blue Fox, we are committed to sharing valuable resources to our friends and clients in the nonprofit, social impact and small business sector. As an Intuit QuickBooks affiliate, we wanted to share some insightful, on-demand educational videos from the 7th annual QuickBooks Connect Conference. Thousands of small business owners and accountants from around the world tuned in to connect, learn more and hear the latest insights from industry experts to help propel their organization.
We wanted to highlight some of our favorite breakout sessions in case you have some free time to check them out.
1. When competition becomes collaboration: How to build your community | QuickBooks Connect 2020
In this 40 minute recorded video, Misty Megia shares three strategies she uses to help companies build communities and turn “competitors” into collaborators.
2. QuickBooks Money: Control your cash flow | QuickBooks Connect 2020
Rania Succar, Senior VP for Quickbooks Money Platform, Intuit, shares a high-level overview in this 6 minute video.
[Also, our brilliant CEO Chantal Sheehan at Blue Fox shared an awesome overview about cash flow and 12 ways to steward your organization with revenue and expenses - it’s a must read!.]
3. How to RISE and thrive in times of change
Change is challenging which we all learned first-hand in 2020. Joyel Crawford explains an action planning tool that can help organizations increase productivity amidst any changing circumstances.
4. Helping clients weather the storm
In a 50 minute recorded session, Geni Whitehouse, CPA.CITP, CSPM talks tools and processes to help accountants standardize their advisory services and client support .
There’s a wealth of valuable content on-demand through QuickBooks Connect and we hope you find some great takeaways to help your organization. Fun fact: We are a proud Intuit Quickbooks affiliate and ProAdvisor.
As always, our team is happy to answer questions and help your organization navigate current financial challenges. Give us a call at (321) 233-3311 or email firstname.lastname@example.org.
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 with fellow nonprofit enthusiasts. We tip our hat to them!
Here are just a handful of our favorite nonprofit resources this month:
(Online Class) Be an Effective Board Member (Required to Create Free Account)
(eBook) 10 Ways to Diversify Your Nonprofit’s Fundraising Efforts and Raise More
(Article) Trends in 2021 Corporate Partnerships and CSR
(Webinars) Bloomerang’s Upcoming Webinar Series
(Article) 32 Nonprofit Leaders Who Will Impact the World in 2021
Thanks for stopping by to read our picks for top nonprofit news this month! If you’re interested in hearing more from us, subscribe to our newsletter today!
About Blue Fox: Our team provides customized, boutique financial and back office services for social impact organizations. Services range from standard bookkeeping and payroll services, to coaching and consulting, to comprehensive virtual CFO services. Our mission is to disrupt the traditional accounting model through technology, innovation, and a radically client-focused approach that truly empowers nonprofits and social enterprises. For more information call (321) 233-3311, email email@example.com, and visit www.YourBlueFox.com.
Love is in the air!
Here is our favorite love story ... about two of our best friends in the nonprofit world. Their names are Fundraising and Finance.
Our friend Finance is not so sexy :) But he is intelligent, organized and precise.
Fundraising is way hotter than Finance. She’s exciting, inspiring, and passion-driven. And everyone loves to focus their attention on her.
When you invite Fundraising to dinner, Finance has to come along. (The good news is, Finance always picks up the tab. Ha!) Fundraising will make your heart melt with the stories she tells and her big energy and hope. But at dinner Finance will talk about cash flow, budgeting, operating reserves, and payroll expenses. You know, all the pesky little details that actually matter. Who invited that person? Sheesh! We know. Finance isn’t sexy, but Fundraising without Finance is just short-sighted.
At first, they seem like an unlikely couple but Fundraising and Finance are intimates. Their nonprofit home is a happy, efficient, sustainable, and well-funded place to be.
Like all couples, they can struggle. But when they work together with open continuous communication and feedback, they are an unstoppable team.
That, our friends, is a nonprofit love story.
Q: So, what’s the moral of the story?
A: To build nonprofit sustainability, your finance and fundraising teams must collaborate closely and communicate on a continuous basis.
[Read: What Fuels Nonprofit Sustainability]
Financial stewardship builds sustainable organizations. But many nonprofit leaders are more versed in fundraising, marketing and events. That’s why Blue Fox exists – to organize, empower and educate nonprofit leaders on all thing’s financial management. We’ve got your back!
Tax-Free Is the Way to Be! The Consolidated Appropriations Act, 2021 Extends Employment Tuition Repayment Assistance Through 2025
Here’s a tax legislation win-win!
If you have student loans, your employer now has the opportunity to provide repayment assistance through 2025 tax-free. Let’s say that again: tax-free!
An article published by SHRM explains: “The Consolidated Appropriations Act, 2021 (CAA), signed into law by President Donald Trump on Dec. 27 extends for five years COVID-19 relief that allows employer-provided student loan repayment as a tax-free benefit to employees under Section 127 of the Internal Revenue Code. Through 2025, employers can continue to make contributions of up to $5,250 per employee annually toward eligible education expenses, like tuition or student loan assistance, without raising the employee's gross taxable income.”
SHRM calculates that only 8% of employers provide loan assistance. This legislation aims to improve that number to make a dent in our nation’s student loan debt crisis.
Chatrane Birbal, vice president for public policy at SHRM said, "This benefit will provide some relief to employees who are currently repaying student loan debt and also gives employers more flexibility in the design of benefit offerings for recruitment and retention purposes."
Let’s spread the word and keep our fingers crossed that more employers recognize the win-win benefits of offering tuition repayment assistance now, through 2025 and beyond.
Welcome to the Blue Fox Blog! A fairly entertaining source of info and news related to our company, nonprofits, social sector trends, and, of course, accounting. Enjoy!
Back to Basics: How to Set Up Your Nonprofit Chart of Accounts
How "Small" Payroll Mistakes Cause Multi-Year S#!t Storms for Nonprofits
Behind the Scenes, New Client Onboarding Call
When to Hire a Tax Professional - 10 Factors to Consider
40+ Ideas to Light a Fundraising Fire Under Your Nonprofit Board Members
Why Outsource Your Nonprofit Accounting to Blue Fox? Ask One of Our Newest Clients
Client CASE STUDY: One of The Most Financially Sustainable Nonprofit Orgs We Know
The Magical Nonprofit Financial Ratio Matrix
10 Reasons to Outsource Your Nonprofit Accounting
How to Make Your Nonprofit Recession-Proof
How to Engage Your Board of Directors in Financial Conversations
QB Tip of the Month: How to Use Classes for Painless Grant Writing
When to Hire an Accountant for Your Social Impact Org
Are You Paying Too Much for Payroll?
Blue Fox Teams Up With Bloomerang to Develop Nonprofit Resources
Blue Fox Earns Better Business Bureau Accreditation
Blue Fox Launches Protected By Logo
Blue Fox - The Origin Story