When separating into a stand-alone nonprofit, Connected by 25 realized they needed a partner with nonprofit and accounting expertise to help them understand exactly what they needed to know, ensuring their organization’s mission and vision would be financially supported.
Hughes approached Foster Results when the company needed help to complete their taxes for a year that was virtually missing from their books. Payroll taxes had also not been paid correctly, and there were significant issues with the company’s sales tax as well.
Dr. Hill was experiencing issues with accuracy of billing and reconciling his accounts. This impacted the financial health of his practice — and also created customer satisfaction issues.
VoCare had an in-house staff member handling their day-to-day accounting tasks, but important items were falling through the cracks. VoCare records had not been updated for over a year, their account balances were incorrect, financial records didn’t accurately reflect external investments and vendors hadn’t been paid for months.