Delaware County is flush with swim clubs. There are about 30 clubs located in Delaware County with 6 in Morton, Swarthmore and Springfield Townships and another 5 in Marple Township counting roughly 20 pools spread throughout the rest of the County.
Many of these clubs are non-profit organizations and are run by either volunteers or members who are paid for their services. These volunteers/members generally receive no compensations and put a tremendous amount of their personal time and effort into planning, opening/closing and operating the club. Unfortunately, the back end office, accounting and financial operations of these clubs can sometimes get lost in the shuffle. There can be plenty of cost cutting and saving opportunities for these organizations that can be turned into positive cash flow for the organization and be potential sources of cash for capital improvement projects or maintain the current membership dues levels. Just thinking of these organizations in a general business sense can in some cases turn a financially struggling organization into one that has positive cash flow.
Here are some of the reasons to consider hiring an outside accountant/business manager:
- Accountability:
- Someone to turn to who can know the organization’s historical transactions which tend to get lost as board members turn over their assignments.
- Questions the purpose of expenses incurred as well as its pricing and value and addresses the organization’s fiduciary responsibility for all financial transactions.
- Eliminates the occurrence of “the old boys’ network” which seems to be prevalent issue in many of these types of organizations.
- Dues collections and member relations:
- A business manager can step in and deal with members who might not be the most cooperative. It seems as if members are trending to pay their dues later and later each year which can become an awful chore for board members to deal with.
- Be responsible for maintaining the membership database and reconcile dues to the membership records to determine that everyone is paying their fair share.
Services we can provide:
- Accounting and bookkeeping:
- Business Management and Administration:
- Check preparation and disbursement
- Invoice review for receipt of physical goods
- Shop costs for services provided and goods consumed
- Insurance review and premium analysis/negotiations
- Management of available funds, cash and any investments
- Membership Administration:
- Creation and maintenance of membership database
- Member invoicing
- Member card system
- Tracking and collection of member dues
Please contact Joe Sillo by either calling him at 610 690-1706 or by email at JSillo@JoeSilloCPA.com.