EAI is one of the few association management companies that provide clients with the support of a CFO. Our CFO is a CPA with years of financial management experience within industry and the not-for-profit sector.

Money can’t buy happiness, but it sure can help deliver essential programs! To be sustainable organizations, nonprofits must be more entrepreneurial in resource assessment. That includes a resource- smart economic model to sustain the organization and a resource-smart operating structure to create value. In some cases, strategies may involve doing more with less or boosting fee income. In others, it may include revenue diversification, greater earned income, and even corporate-nonprofit partnerships. Such strategic changes risk disruption to the organization, its mission, culture, managers and stakeholders. EAI has helped numerous associations successfully deal with these complex financial issues.

Nonprofit accounting differs from for-profit accounting in a number of key ways. Using a for-profit accounting system to meet the needs of a nonprofit is a painful process that leaves organizations lacking critical reports and information required to operate effectively.

Nonprofit CFOs understand that one of their main priorities is to be responsible stewards of the funds entrusted to them. One important way to demonstrate this responsibility is through true fund accounting, which provides accurate and timely information about how funds were used.

Nonprofits must also comply with special regulations mandated by the Financial Accounting Standards Board (FASB). Organizations that fail to comply with FASB requirements have complicated audits and, ultimately, run the risk of losing both sponsor’s trust and charitable support.

EAI brings a high level of financial expertise to the associations it manages. Our accounting services include bookkeeping, financial reporting, accounts receivable, dues collection, accounts payable, budgeting, bank statement reconciliation, issue resolution (related to bank charges, return checks, credit card payments and other matters), independent audit coordination and support, cash management, tax preparation, and federal and state law compliance.

We maintain a strict system of internal accounting controls and procedures that ensure transactions are authorized, recorded and reported properly. The internal control system is augmented by an independent annual audit, written policies and guidelines, careful selection and training of qualified personnel and detailed review procedures. EAI’s system of controls and procedures are time-tested to ensure the highest levels of integrity and reliability.