3 Reasons I Love Nonprofit Accounting
Working for a nonprofit bookkeeping and accounting company may not provide the perceived prestige or the prowess that one receives from the Big 4 (Deloitte, PricewaterhousCoopers, Ernst & Young, and KPMG), but it does provide me with a few distinct returns. Depending on where you personally find value in your actions, nonprofit accounting can be an alignment of skills and passion that you’d never considered before. The following are three reasons why I personally enjoy nonprofit accounting and assisting our clients do their good works.
We help others do good
The easiest statement that can be made about completing the accounting for nonprofit organizations, is that we’re helping those who strive to have a positive impact on the world. Social impact in recent years has become a focal point for individuals seeking something more than just financial return. Accounting for nonprofit organizations provides a clear and direct effect on the way an organization can make decisions, allowing them to better provide for their members, missions, and movements.
Many people still believe that nonprofit organizations don’t really have to operate as a business or concern themselves with money or profit. However, such a statement could not be further from the truth. Nonprofits still have a fiduciary responsibility to operate successfully in order to stay afloat and provide for their constituents. The bookkeepers and accountants of nonprofit organizations are the gatekeepers of that fiscal responsibility.
We make ripples
A major part of why I love providing accounting services for nonprofit organizations is the butterfly effect involved. I like to think of it as a ripple effect. Although we’re providing accounting services for nonprofit organizations, it can be directly tied to some amazing things done around the world. For example:
- After reconciling the books for a given quarter we provide financial statements to an Executive Director and their board.
- With confidence in those financial statements, that management team can make better decisions about what to do with their financial position.
- In some cases that may mean realizing their organization has more money to dig wells in Africa, planting more crops, or opens up another homeless facility in their local community.
Sound financial information provided by your accountants allows your organization to make confident decisions about your business. Our CEO and Founder Jeff Russell refers to this ripple effect of social impact in his book Do What You Do Best.
Our skills make us part of a unique family
Nonprofit accounting is in a way its own little club. Nonprofit accounting is not a widely taught subject, even at the collegiate level. Because of that, individuals with nonprofit accounting expertise are scarce as hen’s teeth. Other accountants who have never had the opportunity to gain experience in nonprofit accounting see it as a mystically specialized form of accounting. With this specialization comes a feeling of community between the accountants that work in the nonprofit industry.
Working as an accountant for nonprofit organizations was never something I had considered while growing up. However, because of the reasons above, I can confidently say that I’ve found a place where my job is truly rewarding. I am able to utilize my best skills and abilities, to provide nonprofits the information they need to create amazing social impact around the globe.
Jon Osterburg, Director of Business Development for Jitasa