Jitasa, derived from the Thai phrase for “the spirit of serving others,” is a firm dedicated to providing comprehensive financial services to nonprofit organizations. Jitasa’s primary offerings include bookkeeping, accounting, and CFO services tailored specifically for the unique needs of nonprofits. Their team comprises experts with extensive experience in the nonprofit sector, and they utilize advanced technology to enhance financial management processes. Jitasa’s services help nonprofits address complex financial landscapes, ensuring they can focus more on their core missions.
To understand the impact of Jitasa’s services, let’s explore several case studies where Jitasa has successfully supported nonprofit organizations in overcoming financial challenges and enhancing their operations.
Ameinu: Strengthening Financial Management for a Complex Organization
The Challenge
Ameinu envisions Israel as a Jewish and democratic state at peace with its neighbors, committed to religious pluralism and social and economic justice for all its citizens. The organization mobilizes Jews who seek to strengthen the bond between the Jewish people and Israel while working to improve society as a whole. However, Ameinu faced significant challenges with their bookkeeping and financial management. The limited capacity of their bookkeeper led to misunderstandings and inefficiencies, consuming valuable time and resources. The complex structure of Ameinu and its multiple initiatives required meticulous attention to detail, which was not being met adequately.
The Solution
Jitasa stepped in with a comprehensive solution to address Ameinu’s financial challenges. They provided clear and detailed monthly reports, robust coding processes, and assistance with budgeting and tax report submissions. Jitasa’s personalized approach involved a dedicated team of bookkeepers who took the time to understand Ameinu’s unique organizational structure and financial needs. This collaboration fostered a deeper understanding and more effective financial management, alleviating the burden of accounting and administrative tasks from Ameinu’s staff.
The Result
The improvements in Ameinu’s financial management were significant. The clear and understandable monthly reports provided by Jitasa allowed for better budget monitoring and informed decision-making. The dedicated team of bookkeepers ensured prompt responses and efficient solutions to accounting-related issues, empowering Ameinu to focus more on their core missions and programming. By entrusting their financial management to Jitasa, Ameinu was able to enhance communication with donors and partners, presenting them with accurate and up-to-date financial information.
CPT Institute: Enhancing Financial Integration and Audit Processes
The Challenge
CPT Institute is dedicated to preserving government benefit eligibility for injured and at-risk individuals, focusing on education and providing low-cost trust services. As the organization grew, maintaining effective communication between its systems and financial books became challenging. Accurate translation of information to the chart of accounts was crucial to keep the board well-informed, and the yearly audit posed a significant burden.
The Solution
Jitasa provided expertise in financial management to streamline CPT Institute’s processes. They established a seamless integration between the organization’s systems and financial books, ensuring accurate and timely reporting. Jitasa’s support extended to simplifying the yearly audit process, providing guidance and reducing the audit burden.
The Result
With Jitasa’s services, CPT Institute experienced significant improvements in financial management. The organization could easily generate reports that provided valuable insights to the board of directors, enhancing visibility into financial data. Jitasa’s assistance made the yearly audit process more manageable, allowing CPT Institute to focus more on their core mission of educating and training the community on government benefits.
IMAGO Global Grassroots: Structuring Accounts for Growth
The Challenge
IMAGO Global Grassroots empowers marginalized communities to create sustainable solutions for issues they face, particularly focusing on women and girls in Africa and Asia. Initially, IMAGO handled its accounting in-house, but as the organization grew, the need for professional bookkeeping support and high-level financial advice became apparent. They required guidance on structuring their accounts and internal processes to support future growth.
The Solution
IMAGO partnered with Jitasa, who provided valuable advice on structuring accounts and internal accounting processes. Jitasa also helped IMAGO comply with audit requirements more easily and provided a sounding board for policy implementation, such as expanding travel policies. Additionally, Jitasa’s support in tracking expenses per project improved budgeting and provided a clearer understanding of financial flexibility.
The Result
With Jitasa’s support, IMAGO expanded from four to almost twenty full-time employees, entered new regions, and secured more grants. The organization achieved a better balance between operational financial management and adhering to Generally Accepted Accounting Principles (GAAP). Jitasa’s services allowed IMAGO to focus more on their core mission and programming, greatly benefiting from the enhanced communication and collaboration with Jitasa.
The Sustainability Accounting Standards Board (SASB) Foundation: Improving Accuracy and Reducing Errors
The Challenge
The SASB Foundation, which develops sustainability disclosure standards, faced financial challenges due to high staff turnover and numerous errors from a previous outsourced accounting firm. These issues hindered effective financial management and distracted the organization from its core mission.
The Solution
Jitasa addressed these challenges by providing a dedicated controller and team who ensured accurate and timely financial processing. They handled back-end processing of invoices and reimbursements, allowing the SASB Foundation team to focus on operational and employee concerns. This arrangement also supported the organization through two international mergers over two years.
The Result
Jitasa’s services had a significant impact on the SASB Foundation’s financial management. The foundation could focus more on their core mission and programming, benefiting from accurate and timely bookkeeping and accounting. The level of communication and collaboration with Jitasa was exceptional, facilitating quick and thorough handling of financial requests and scheduled meetings for complex issues. The SASB Foundation highly recommends Jitasa for their understanding of nonprofit needs and exceptional support.
Jitasa’s specialized financial services for nonprofits have proven to be invaluable across various organizations, each facing unique challenges. By providing tailored bookkeeping, accounting, and CFO services, Jitasa helps nonprofits streamline their financial processes, ensure compliance, and focus more on their core missions. The case studies of Ameinu, CPT Institute, IMAGO Global Grassroots, and the SASB Foundation highlight Jitasa’s ability to enhance financial management, improve operational efficiency, and support organizational growth. Nonprofits looking for reliable financial expertise can trust Jitasa to provide the necessary tools and support to achieve their goals and make a greater impact in their communities.
