​Nonprofit leaders, can you relate?

You spend half a day anxiously preparing for your upcoming board meeting. Organizing financial information. Preparing board packets. Anticipating questions. Printing. Compiling. Binding. Documenting and reminding.
 
Then you sit at the head of the table and begin your meeting. It seems to be going okay. You’ve only had to pull one board member back on track so far. But, here comes the presentation of financials.
 
You look around the table as each member studies the income statement and balance sheet. What they heck are they thinking? You wonder if they are just playing mental sudoku with the numbers. Silence. And more silence. And then, someone asks, “So, how do you feel the organization is doing financially?”
 
You explain the details but are met with blank stares and generic questions about why last year’s gala made $700 more than this year’s gala.
 
There has to be a better way. A better way to guide financial conversations. A better way to present the data. A better way to tap into the knowledge, experience and leadership that sits around your board room table. And, a better way to show your board that you are in control of the ship.
 
Recently our CEO, Chantal Sheehan wrote a guest feature post for Bloomerang that provides real-world actionable advice on how to generate meaningful conversations about money with your board of directors.
 
Here are some of the highlights from that article:

• Ask your board leadership what information they would like to see presented
• Conduct an anonymous survey to gauge financial understanding, before and after changes in presentation style
• Use dashboard style presentations for easy comprehension and comparison
• Make a FAQ sheet to prevent the same questions from being asked over and over
• Respond your leadership team’s financial concerns before the meeting to eliminate surprise questions

 
Read the full article for more tips and advice on how to proactively manage your board meetings, especially the conversations about financials!
 
Side note: Bloomerang recently added us to their Nonprofit Consultant Directory and we could not be more proud! 

Nelson Mandela said, “Sometimes, it falls upon a generation to be great. You can be that great generation. Let your greatness blossom.”
 
Here’s what I think:
 
We are one of those generations
We are social entrepreneurs and impact leaders
We are concerned worldly citizens
We start businesses that address society’s most pressing social problems
We can and will be great
 
Our generation knows that poverty, resource depletion, prejudice, lack of education, healthcare and other important issues must be addressed on a wide scale. The social enterprise movement is one piece of the puzzle called progress.
 
According to The Good Trade, “A social enterprise is a cause-driven business whose primary reason for being is to improve social objectives and serve the common good.” And, Forbes describes a social enterprise as “an enterprise where at least 50% of the profits are invested back into a charitable cause.”
 
It turns out that Millennials (a.k.a Generation Y/Generation Now) are a driving force in social enterprise – they firmly believe that purpose and profit should be linked. They (we) sometimes get a bad rap but most of us care about the footprint we leave behind.
 
And, the question of the day. What does this have to do with accounting and back office services? Why are we blogging about this?
 
Well, if you didn’t know, our team at Blue Fox serves not only nonprofits, but also social enterprises focused on mission-driven work.
 
Last week our CEO, Chantal Sheehan said, “I would love to be able to look back on a life where I accomplished important things for people doing really good work.”  That’s right our boss-lady is legit! Social impact minded? I think so!
 
Are you personally a catalyst for social good? If you’re not, do you want to be?
 
What can you do to support the social impact movement, and as Mandela encourages, “Let your greatness blossom”?
 
Here are a few resources that may inspire your next step.

• Work for a social enterprise – 10 of the best by LifeHack
• Invest in one – 3 tips by Startup Grind
• Start your own - 5 questions to ask from Forbes
• Buy from them - 5 reasons why by InventShift

 
An article I just read today, by Social Good Stuff began, “Social Enterprise – is it a trend, a revolution, or something in between?” What do you think?
 
Author: Chelsea Clementi, MBA, Director of Marketing & Business Development, Blue Fox
 
Resources:

• 3 Tips for Investing in a Social Enterprise
• 10 Innovative Social Enterprises that are Improving the World
• Conscious Consuming: 5 Reasons You Should Buy from A Social Enterprise
• How To Create A Business That Does Good With A Social Enterprise
• Millennials Are Rapidly Changing Today's Business Landscape — Here Are 6 Reasons For It
• Social Enterprise Statics from Around the World
• What Is A Social Enterprise? A Simple Definition & 3 Examples

 

​Why is kindness often seen as a weakness in business? Wouldn’t you prefer your professional acquaintances be kind and collaborative as opposed to pushy and aggressive? So, why are corporate environments typically filled with overly assertive or aggressive dynamics? It’s so old school.
 
No one wants to be bulldozed in business! So, let’s stop doing that to each other. Kindness is in! In fact, kindness actually leads to increased productivity and profits – plenty of research is out there to back that up.  
 
Recently our CEO, Chantal Sheehan wrote a guest blog post  for the productivity platform Hive on the benefits of kindness in business. (Side note: We use and love Hive!)
 
Here are just some of those benefits.
Kindness is proven to:

• Foster creativity
• Increase employee retention
• Breed collaboration and productivity
• Lower health care costs
• Build leadership influence

 
Read the full article for the research, evidence, and real-world examples that prove those benefits. You won’t be disappointed! 

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: 

• 6 Questions to Ask Before You Start a Social Enterprise
• 4 Strategies for Making Your Social Enterprise Stand Out from the Crowd
• A Five Step Guide to Starting a Socially Impactful Business
• Remote Workers Are Outperforming Office Workers - - Here's Why
• Can Social Enterprise Ever Be Big Enough to Change the World

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!
 
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 protected], and visit www.YourBlueFox.com. 

Our team just came across a must-share article! Nonprofit leaders and friends - we urge you to read: Choosing a nonprofit accounting tool: top six questions to ask, published by NTEN and written by  Pia Simeoni. It’s comprehensive and robust!
 
This article is for nonprofit organizations that may not have the latest and greatest financial technology. If it’s time to make a change, where do you start?  
 
Read the full article for answers to these six questions:

1. Why does my organization need accounting software?
2. How flexible is my software budget?
3. Will the software help me track my campaigns?
4. What else should my accounting software help my nonprofit do?
5. What if my nonprofit gets audited?
6. Will we need to switch software again in a couple of years?

 
Our team at Blue Fox is always available to help you upgrade your systems. We bring you up to speed with software and processes that produce accurate and actionable financial data. And, that’s the kind of data that leads to insightful strategic decision making. Yes, we’re offering to make your life easier.
 
Let’s make your systems talk! Call us at (321) 233-3311, email [email protected], or simply schedule your free consultation!

Melbourne, FL (July 1, 2019) – This week, virtual accounting firm Blue Fox announced its recent accreditation by the Better Business Bureau (BBB) serving Central Florida. As a BBB Accredited Business, Blue Fox is dedicated to promoting trust in the marketplace. 
 
Founder of Blue Fox, Chantal Sheehan said, “More than anything, we value building trust and camaraderie with our social impact clients. It’s a true honor to receive the BBB Accreditation. Our team is fully committed to maintaining the highest standard of ethics and service.”
 
According to BBB reports by Princeton Research, seven in ten consumers say they are more likely to buy from a company designated as a BBB Accredited Business. BBB is a resource for the public providing objective, unbiased information about businesses.
 
BBB Accredited Businesses must adhere to BBB’s “Standards of Trust,” a comprehensive set of policies, procedures and best practices representing trustworthiness in the marketplace. The standards call for building trust, embodying integrity, advertising honestly and telling the truth, being transparent, honoring promises, being responsive and safeguarding privacy.
 
The Blue Fox brand is fairly new to the social impact accounting services scene. In 2018 they rebranded from the name With Balance and began to offer a wider breadth of services beyond consulting, education, and coaching. Services include bookkeeping, payroll, consulting, tax preparation and full-service virtual CFO. Following the company’s rebranding, their revenue tripled confirming the need for this unique combination of services in the social impact (nonprofit and social enterprise) space.
 
Blue Fox is currently accepting new clients for onboarding fall 2019. Onboarding typically includes one month of high-touch communication and is reserved for one or two clients per month.
 
For more information call (321) 233-3311, email [email protected], and visit www.YourBlueFox.com.
 
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ABOUT BLUE FOX: Blue Fox provides customized financial and back office services for social impact organizations (nonprofits and social enterprises). Services range from standard bookkeeping and payroll services, to coaching and consulting, to full-blown virtual CFO services. The Blue Fox 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 protected], and visit www.YourBlueFox.com.
 
ABOUT BBB: BBB’s mission is to be the leader in advancing marketplace trust. BBB accomplishes this mission by creating a community of trustworthy businesses, setting standards for marketplace trust, encouraging and supporting best practices, celebrating marketplace role models and denouncing substandard marketplace behavior. Businesses that earn BBB Accreditation contractually agree and adhere to the organization’s high standards of ethical business behavior. BBB is the preeminent resource to turn to for objective, unbiased information on businesses and charities. Contact BBB Serving Central Florida at 407-786-9008.