In this episode, we welcome our special guests, Erin Anderson, Executive Director of the Idaho Botanical Garden, and Cheryl Guiddy, Nonprofit Industry Lead at Harris. Learn how successful capital campaigns are helping nonprofits meet their future goals, and the importance of an organized structured plan, which often begins years in advance. Cheryl brings her insight into crucial accounting considerations, and Erin also shares the exciting future expansion plans for the Idaho Botanical Garden.

Show Notes:

• 00:35 Introduction and Guest Introductions
• 01:46 Overview of capital campaign and why nonprofits use them
• 03:00 Idaho Botanical Garden's impressive plans for expansion
• 09:37 Capital campaign phases
• 11:40 Financial accountability and transparency
• 17:45 How to help your board and staff understand the financial data coming in
• 20:43 Best piece of advice for nonprofits looking to do a capital campaign

Links:

Idaho Botanical Garden Website

Erin Anderson's LinkedIn

In this episode, our host, Josh Tyree introduces Brittany Mergan, CPA of CTA Compliance, the preferred provider for helping our clients comply with the new Corporate Transparency Act requirements. Along with our partner at Harris, David Hutchison, EA, they address key aspects of the Act, help define the types of owners that will be required to report, deadlines for reporting, exemptions, and tips for multi-entity owners.

Show Notes:

• 00:35 Introduction to the Corporate Transparency Act (CTA)
• 01:24 Current Status and Legal Challenges of the CTA
• 02:47 What is Beneficial Ownership Information (BOI) and the role of FinCEN?
• 04:20 Who needs to file and what do I have to submit?
• 05:10 Consequences of Non-Compliance with the CTA
• 05:59 Defining ownership interest, and the effect on spouses
• 10:08 Deadlines for reporting
• 11:42 Defining reporting applicants and their responsibilities in reporting
• 13:20 Clarifying requirements for Single Member LLCs or Sole Proprietors
• 16:33 Tips for multi-entity owners

Links:

Questions on CTA Compliance, contact info@ctacompliancellc.com

Brittany Mergen's LinkedIn

David Hutchinson's LinkedIn

David Hutchison's Biography

In this episode we welcome our guest, Gina Vinci, Controller at McMillen, a leading engineering and construction firm. Gina helps give a greater understanding surrounding the complexities of managing cash inflows and outflows effectively, the importance of leveraging banking relationships, and the critical role of forecasting to help in meeting organizational goals. Discover practical tips for mastering cash flow management in diverse business landscapes.

Key Highlights:

• 01:38 – What cashflow management means from a controller’s perspective
• 02:14 – How receivables (AR) and payables (AP) impact your cashflow
• 04:52 – The nuances of cashflow in the construction industry
• 05:50 – How subcontractors and contract payment terms tie into managing cashflow
• 09:27 – Leveraging strategic banking relationships
• 12:07 - The importance of a strong balance sheet to support cashflow
• 3:08 – Monitoring backlogs and burn rate
• 15:00 – Using historical cash flow to help forecast
• 16:43 - Continuous cash flow monitoring and planning
• 17:41 - Aligning to leadership’s strategic goals
• 19:51 – How banking and CPA relationships can assist with cashflow strategies

Links:

Gina Vinci's LinkedIn

McMillen Inc's Website