An AMS Rapid Diagnostic® showed the Massachusetts Alliance of Portuguese Speakers (MAPS) they needed to improve their financial management practices. The organization had recently hired a new Manager of Finances & Operations and wanted to increase the efficiency of their reporting procedures. In addition, updating policies and procedures would help the organization become compliant with requirements around the new Form 990. The organization also wanted to create a more advanced financial structure to support improved budgeting.
The organization engaged AMS, who provided a consultant with more than 25 years of experience. The consultant set to work, rewriting the current policies and procedures manual to introduce industry best practices, especially Form 990 compliance. The consultant developed a sample month end financial package and provided training to the Manager of Finances and the Executive Director. The consultant also worked with the Manager of Finances to complete the yearend close and prepare for an upcoming audit.
The yearend audit was streamlined with all schedules created and with the additional training, the Manager of Finances was able to get up to speed quickly. The new policies and procedures manual has provided the organization with additional financial structure, ensuring continued growth in the years to come.