Financial Planning

Help Beauty Marks for Girls improve their ability to predict the financial impact of changes in their funding and expenses, so that they can effectively plan for the future and avoid surprises.
Beauty Marks for Girls
Spartanburg, SC, USA
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Beauty Marks for Girls
Spartanburg, SC, USA

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Finance

Posted November 2nd

Project details

What we need
  • An Excel spreadsheet custom-built specifically for the Organization's finances
  • Training on how to use the spreadsheet to understand the current financial situation and predict future states (e.g., plan for budget increases or decreases, hiring, and other key drivers)
Additional details

A comprehensive review of our chart of accounts to ensure that it is structured in a way that allows us to track and analyze financial data effectively. Evaluate our operating budget to ensure that it accurately reflects our financial needs, goals, and objectives. To identify any inefficiencies and recommend improvements in data gathering and reporting.

What we have in place
  • Provide access to our financial records, including operating budget, and financial statements.
How this will help
This project will save us $14,474 , allowing us to enhance our financial data reporting and management.

Improving our financial planning processes, we ensure that our resources are directed where they are needed the most - towards empowering girls with incarcerated mothers. A well-executed Financial Planning project will equip us with the tools to predict the financial impact of changes in funding and expenses accurately. It ensures that our financial practices align seamlessly with our mission, promoting transparency, accountability, and sustainability.

Project plan

P
Prep: Distribution of Prep Materials
  • Volunteer Manager provides Professional with current accounting needs and practices, chart of accounts or operating budget, and financial statements currently being generated (e.g,. statement of financial position, statement of activities, or statement of cash flows)
  • Optional: If you are concerned about the sensitive nature of your financial data, have a volunteer sign a non-disclosure agreement
1
Milestone 1: Analysis & Recommendations
  • Professional analyzes current accounting system, and recommends improvements to data gathering, reporting, or implementation of new bookkeeping software
  • Volunteer Manager provides feedback which Professional incorporates
2
Milestone 2: Implementation
  • Professional helps the Volunteer Manager to implement recommendations
3
Milestone 3: Training
  • Professional trains Volunteer Manager on how to fully implement recommendations to ensure sustainability
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About the org

Beauty Marks for Girls
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Posted by
Jennifer J.

Executive Director

Our mission

Beauty Marks for Girls is a nonprofit organization committed to improving the lives of girls whose mothers are incarcerated through the development of self-esteem, academics, and emotional support.

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