Nov 29, 2018

Report #2

Workshop at Ponce
Workshop at Ponce

Thanks to the funds provided by Global Giving, Asesores Financieros Comunitarios(AFC) was able to provide a workshop at the south part of the island, so people of the nonprofit organizations can benefit with the new changes to the financial statements.

In October 26,2018 AFC offer a workshop in the "Salón de Conferencia, Archivo Histórico Municipal de Ponce" of the "New rules on how to present the financial statements for the NPOs".This workshop contained the new dispositions of the FASB, the organization that establish and improve Accounting Principles Generally Accepted in the United States.

Is important to say that the access to this information is limited because of three main reasons:

  • Cost because nonprofit organization most of the time can't afford it
  • Most of these services are provided in the metropolitan area
  • The professional that provide this material need to know about the nonprofit organization. 

this situation gets worse because of Hurricane Maria, more than 50% of the nonprofits change their approach and began to provide primary services or attending the needs of the population they serve, also the number of participants increase. Because of these situations becomes more meritorious to provide services that strengthen the administration and sustainability of the nonprofit organization because it will result in assuring services in Puerto Rico.

AFC have 123 volunteers among these CPA's, Lawyers, Accountant, Industrial Psychologist, University students and others and we have more than 11 years of experience providing workshops and technical assistance to nonprofits organizations in the areas of administration, accounting and complianceThis workshop was provided by one of our volunteers who is a CPA with more than 20 years of experience, is professor and have vast experience in the nonprofit sector.

The knowledge of this volunteer, the commitment of donors like you and Global Giving is what made possible that more than 47 participants from nonprofit organization around the island benefit from this information.  

Sep 7, 2018

Nonprofits Get Stronger

CPA Agnes Suarez offering a workshop to nonprofits
CPA Agnes Suarez offering a workshop to nonprofits

EMPOWERING THE NONPROFITS

The nonprofit sector in Puerto Rico gets stronger. In Asesores Financieros Comunitarios we assist nonprofit organizations in their accounting, administration and compliance. We make this possible through our 3 main programs which are the Workshop Program, the Technical Assistance Program and Asesores Financieros Universitarios (AFU).

Workshop Program

The semester started on August for the Workshop Program and AFU. On the first month the Workshop Program, have served 53 participants, most of them from 36 nonprofit organizations that have come to 3 workshops. Our participants are a very diverse group, they go from of people with High school degree to PHD's and from Nuns to CPA's. At the same time, they serve a diversity of causes like homeless, hunger, sickness, mental illness, and other situation that affect our population; but all of them have something in common, they want to learn more about the nonprofit sector. As a result it strenghten each nonprofit, consequently the sector, assuring the provision of essential services in the island.

Technical Assistance Program & AFU

We have another great start for AFU. This semester is our biggest with 18 groups each group is composed by 1 student, 1 nonprofit and 1 CPA mentor. In 2015 we began this program with 3 students, 3 mentors and 3 nonprofits. This program represent more than $183,000 in savings for the nonprofit sector because of the help received by the students and the mentors. At the same time, we keep providing assistance to other nonprofits.

Next Step

We are working on coordinating the workshops around the island for nonprofits about the changes on the financial statements related to the nonprofit sector in the island, to keep empowering the nonprofits in Puerto Rico.

We will keep you on touch.

Cordially,

The AFC Team

Link Activity of AFU: Preparing the workplan
Link Activity of AFU: Preparing the workplan

Links:

 
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