The Foraker Group

The language of finance is foreign to many people. Unless you have been trained in the field, you probably haven’t been exposed to all the components that are required to have a robust financial system. We can walk you through best practices for maintaining your overall finances, or help you with a specific financial issue. We can guide you on whether or not you have the internal capacity to do your own finances, or if you should seek outside help.

For more information on how we can help, use our contact form or call us at 907-743-1200.

If you want to make financially sound decisions, you must have accurate financial information. While you stay in the decision-making role, our Financial Shared Services allows you to outsource your financial and accounting functions to professionals who understand the specific needs of nonprofits. Operating in a shared environment allows us to keep your costs low while providing skilled accounting services.  Our services include:

• Payroll processing: Whether you have one employee or hundreds, we can provide you with accurate and timely payroll processing. We will file your quarterly payroll tax reports and prepare annual W-2s.
• Budget assistance: We will support you in generating an annual budget and help with implementing your budget as a useful tool.
• Internal controls: We include a review from another staff member in every process. The segregation of duties will help to strengthen your internal controls.
• Check processing: Payment schedules are built to best meet your need. We will also prepare your annual 1099 forms.
• Grant reporting: Whether it’s a federal, state, local, or private foundation grant, our experienced staff can assist you in preparing the necessary reports.
• Month-end reconciliations and closing: We will perform the necessary reconciliations of the balance sheet and post the month-end entries in order to keep your accounting records current under the accrual method.
• Financial statement preparation and analysis: We provide financial reports and analyses based on your needs. We can attend board and finance committee meetings to present the reports and answer questions.
• Scenario planning: We can run your scenarios to better understand the financial implications of certain choices.
• Audit preparation: We will help prepare your annual audit work papers and work directly with your auditor and staff during the audit process.

Are you interested in becoming a Financial Shared Services client? Complete this form and email it to Foraker’s CFO, Raju Shankar at rshankar@forakergroup.org.

It doesn’t matter how small or large your organization, financial policies are essential to making sound financial management decisions. We offer a menu of document design and review services that is built on getting and keeping your financial house in order, including:

• Determining basis of accounting
• Ensuring appropriate internal controls
• Creating a policy and process for asset management
• Writing or reviewing a code of ethics
• Determining in policy the definition of a fiscal year
• Creating a policy on financial authority
• Creating a policy and process to obtain an auditor and schedule for audits
• Creating a policy and procedure for when special audits may be required
• Creating or updating a travel policy
• Creating or updating an insurance policy
• Creating or updating a board giving policy and procedure
• Creating or updating a document and information management policy
• Creating or updating an employee protection policy
• Creating or updating an employee matching gift policy

For more information on how we can help, use our contact form or call us at 907-743-1200.