How Do Your Financials Measure Up?
Dust off those financial statements and put them to work! Our team at Blue Fox created this Magical Ratio Matrix to help your organization measure its financial health against industry standards.
So, how do you measure up? What are the red flags for each ratio? Is your organization in a healthy, sustainable position?
BUT FIRST! Before you start your calculations, make sure your financial data is current. Complete Step 1 on our Ultimate Financial Checklist. Check each box to ensure your data is squeaky clean. Remember: Accurate data = accurate insights = informed decision-making.
LET’S CRUNCH THOSE NUMBERS
How did it go? Are your ratios within the acceptable range? Did you get a red flag? If so, that’s okay. That’s important information to have. The question is: what are you going to do about it? Do you know what steps you can take to improve your nonprofit’s financial position?
If you have any questions about your results, our friendly team at Blue Fox will happily help. Feel free to schedule time with our CEO to get some answers.
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Blue Fox offers monthly back office financial services (bookkeeping, HR, payroll, tax) and financial consulting specific to social impact organizations. Our team members have broad expertise in the social impact space, with backgrounds as nonprofit leaders, board members and volunteers. The entrepreneurial spirit runs deep on our team. This means we manage your back-office from the same perspective as you would. Meet some of our clients!
Tech Thoughts From Our CEO, Chantal
When I started Blue Fox, I was delighted at the prospect of working from home and running a virtual, tech-based company. My list of pros was something like this:
- Yoga pants
- No high heels on the daily
- Unfettered access to the fridge
- A schedule that works for me
- Yoga pants
But I never imagined that one of the benefits of running a firm like Blue Fox would be that our services would remain operational during a pandemic. Zombie apocalypse might've been higher up on my list than pandemic. Sheesh. Talk about unexpected wins.
Am I glad we're operational during COVID-19? Of course. Thankful every day we can continue to provide for our clients and our team. But even with all our tech tools and infrastructure, we've still had to adapt to new and different needs, internally and externally, during the last 6 months.
Technology needs in today's business world are only intermittently static. They evolve, right alongside your business model and your team, over time. You ignore your ever-changing needs in this area of your business at your own peril. Cumbersome, inefficient technologies can become a huge internal burden if left in place for too long. And then it becomes extremely costly (time and $$!) when you finally transition.
Our tagline at Blue Fox is Agile Accounting for Impact. Agile is a tech industry term, in case you're unfamiliar. It has to do with developing and deploying software incrementally and iteratively, rather than just dropping a completed product in the marketplace.
So if we at Blue Fox don't practice an agile approach for ourselves, and support our clients in doing so as well, we aren't living up to our mission. So that's why we've put together a special tech-oriented newsletter curated just for you.
Enjoy & stay safe and healthy,
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!
Blue Fox + Bill.com = Clean Audits & Happy Clients
What Fuels Financial Sustainability?
The Magical Nonprofit Financial Ratio Matrix
Dear COVID-19, I'm Breaking Up With You
The Latest COVID-19 Resources for Nonprofits
10 Reasons to Outsource Your Nonprofit Accounting
6 Step Guide To Build Donor Trust
Our Favorite Resources for Nonprofit Fundraisers
3 Vital Resources for Nonprofit Start-ups
2020 Nonprofit Trend: The Virtual CFO
How to Make Your Nonprofit Recession-Proof
What Nonprofits Need to Know About the New Overtime Ruling
Double-entry Accounting Made Easy - Essential Desktop Guide, Free Download
Blue Fox CEO Named
As Keynote Speaker for Nonprofit Hub's Cause Camp 2020
5 Steps to Solving Complex Workflow Problems
The Hidden Cost of Wearing Too Many Hats
The Key to Workplace Success - Investments in Professional Development
Accounts Payable Made Easy - The Marriage of Bill.com and QuickBooks Online
Nonprofits - It's Time to Automate Your Back Office
How to Engage Your Board of Directors in Financial Conversations
How to Join the Social Enterprise Movement
Kindness Leads to More Profit & Productivity
Don’t Ignore This Nonprofit Management Advice
Building Blocks for A More Just, Equitable, and Inclusive Work Environment
QB Tip of the Month: How to Use Classes for Painless Grant Writing
Nonprofit Leaders - Talk Finance and Empower Your Staff
When to Hire An Accountant for Your Social Impact Org
Why Outsource Your Accounting?
That Time I Went to Cause Camp
Impact Investments in Yourself
Are You Paying Too Much for Payroll?
Financial Dashboards - Capture Attention, Create Conversations, Drive Results!
Don't Let FinTech Scare You - Our Top 4 Back Office Tech
The Wonderful World of Micro-Donating!
The Case for Kindness in Business
How Nonprofits Build Donor Trust: Be Transparent
5 New Year’s Resolutions for Sustainable Nonprofits
Why We’re on a Mission to Help Conservation Organizations
Money Matters - So Why Aren’t More Nonprofits Talking About It?
Tips to Get You A Clean Audit Every Year
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