Good Steward Financial Company has embarked upon a road of taking the pressure off of financial management for nonprofits and giving them a clear picture of their finances bearing in mind that they need a special approach. Good Steward Financial believes in the missions of nonprofits being singularly devoted to helping them further their goals of community service. Good Steward Financial brings accounting and bookkeeping solutions specifically to nonprofits working with them step-by-step to help them better look after their financial records. “It’s really just bringing another level of expertise to financial review that most nonprofit organizations are missing when they are allowing volunteers or maybe entry level staff to handle the finances,” states Jasmine Simpson, CEO and founder of Good Steward Financial Company.
Simpson’s team has a hands-on approach with clients they partner with, diving into all the angles of a financial portfolio, among which stand annual audit assistance, full-service bookkeeping and accounting, cash f low management, payroll processing, fractional CFO services, and QuickBooks services. One of the main services Simpson and her firm provides is virtual outsourced bookkeeping and accounting services for nonprofits. Good Steward Financial is well aware of the pitfall of a nonprofit spending too much on a CFO and assigns temporary CFOs to them, thereby eliminating the need for hiring. As opposed to most CPAs, Simpson’s team focuses on the details of the financials at hand rather than focusing solely on Form 990. A lot of their services spare nonprofits from having to spend more on essential services to streamline their businesses. The Good Steward Financial team has reduced manual entries and manual processing by making transactions electronic and has cut down on spending via virtual bookkeeping. Through the personal focus that each of Simpson’s team places on clients, she and her crew are able to make people feel that their interests matter at a core level of humanity.
We view our clients’ mission as our mission
In an implementation highlight, Good Steward Financial stepped in to help an organization that dealt with environmental education, water quality, and stream restoration, reclassify all of their data, and trained the staff and board members on classification and management of financial records using QuickBooks. Another nonprofit working toward bringing educators and businesses together to bring positive impact to historically underserved students was weighed down by a complex accounting system consisting of 300 accounting codes. Integration and automation were brought in by Good Steward Financial’s team. They have also done away with the time-consuming process of the writing and signing of checks. Furthermore, outsourcing bookkeeping and bringing in a fractional CFO also helped them save money.
Simpson believes strongly in her mission of easing out the financial processes of nonprofits since they have a noble mission of lending a helping hand to people, giving them a lighted path ahead in times of peril. She oversees much of the handling of services by others personally and is available for talking to clients on a one-to-one basis, which is refreshingly different from other financial firms. “We view our clients’ mission as our mission. We focus on building that customer relationship making sure that they know we are on their team.”
This year Good Steward Financial has rolled out a new financial planning and analysis (FPNA) service for nonprofits, reworking strategies applied to small businesses and corporates to model them according to the concerns faced by these entities. In the coming year, Good Steward Financial intends to move to other states in the U.S. They currently cater to clients in North Carolina but have also touched upon Oregon, Virginia, Washington DC, and California. Good Steward Financial is anchored on its vision of bettering the financial ecologies of the nonprofits they have joined hands with on a journey that promises a healthier human existence.