Nonprofit Fundraising Requires Expertise in Inventory & Sales Tracking
Madison Children’s Museum, Inc. (MCM) is focused on enriching the lives of children and their families by creating an environment of playful learning. Since play can be serious business, the organization searched for a business partner that allows them to remain their playful selves, while still ensuring the organization runs at its full potential.
The organization’s largest fundraiser is the Annual American Girl Benefit Fund for Children event that benefits not only MCM, but over 20 local nonprofit organizations that receive funding through the Madison Community Foundation. While the event is held on one weekend each year, the planning and organization of the event is a year round effort. SVA brought their expertise to assist with streamlining a complicated fundraising effort that includes inventory tracking, warehouse space, pricing and sales reporting processes that generates over $1 million of sales. “This event was very complicated to orchestrate until SVA helped us develop an efficient and effective method of tracking inventory and sales”, says Deborah J. Gilpin, President & CEO.
SVA’s knowledge of New Markets Tax Credits and understanding of UBIT (Unrelated Business Income Tax) helped the organization maximize a complex financial model that includes the museum and their foundation. “SVA understands and applies regulations related to our nonprofit status to benefit our organization”, says Gilpin. “They handle all our audits and present the findings to our board of directors in a way that helps everyone understand the museum’s financials.”
SVA’s community involvement and support of local nonprofit organizations was a deciding factor when Gilpin and the board were looking for a CPA firm. “We appreciate the educational opportunities SVA offers and we benefit from the depth of real estate and nonprofit knowledge their staff has”, says Gilpin.