Edmonds Food Bank Case Study
CASE STUDY:
EDMONDS FOOD BANK STREAMLINES FINANCIAL PROCESSES WITH THE HELP OF GOOD STEWARD FINANCIAL COMPANY, LLC
Executive Summary
When 2020’s global pandemic erupted, awareness of food insecurity skyrocketed, donations to Edmonds Food Bank soared, and the nonprofit’s part-time bookkeeper grew overwhelmed trying to manage it all. Executive Director Casey Davis sought help from Good Steward Financial Company, LLC, whose team caught the books up and put more efficient financial processes in place to allow easier tracking of numbers. Today, the nonprofit runs more efficiently and with the confidence that its financial records are accurate and up to date.
WITH RECORD DONATIONS OVERWHELMING FINANCIAL PROCESSES, THE NONPROFIT NEEDED ASSISTANCE STREAMLINING THOSE PROCESSES FOR GREATER EFFICIENCY.
The Story of Edmonds Food Bank
Edmonds Food Bank is a Washington-based nonprofit focused on transforming lives and eliminating food insecurity. What started as a few groceries stored in the closet of a United Methodist Church in 1981 has morphed into a multi-million-dollar organization that serves more than 350 families each week and 47,000 meals every month.
“We’re part of the Feeding America system. We receive federal funding, state funding, grants, and a lot of individual donations,” says Executive Director Casey Davis. “We thankfully haven’t been closed one day through all of COVID. When the pandemic hit, we changed our website and started online ordering, so any customers could order what they wanted online from the menu of foods.”
With so many orders and additional donations coming in, the nonprofit needed assistance keeping track of its finances, coding correctly, and reporting effectively.
“I’d met Jasmine through LinkedIn and had a conversation with her. We interviewed all three recommended firms, and Jasmine stood out because she was incredibly respectful, willing to answer our questions, and supportive. With the full team at Good Steward, she also had the capacity to take on the work for an organization of our size, and the team functions in partnership with their clients. An extra plus is the opportunity to support a minority-owned, woman-owned business.”
Casey Davis, Executive Director
The Challenges Facing Edmonds Food Bank
Until January 2021, Davis had been the only employee at Edmonds Food Bank. Under her leadership, the nonprofit tripled its cash donations in just three years, and a part-time bookkeeper signed on to help manage the financial records. When the pandemic hit and donations tripled again, managing the books became overwhelming.
The food bank needed assistance with every aspect of financial record keeping so it could continue to function at the highest level while accurately tracking its finances.
Why Edmonds Food Bank Chose Good Steward Financial Company
The nonprofit’s finance committee chair and another respected food bank director offered recommendations for bookkeepers they knew. Edmonds Food Bank chose Good Steward because the team bought into the food bank’s mission and vision, and their service felt personal.
“They stepped in and caught us up,”explains Davis.“They had to really learn our system fast and what we were doing, and they’ve had strong input over the last year. The trust level developed very fast, and at this point, they’re just a part of the team. I don’t see how I could do my job without them being involved.”
Casey Davis,
Executive Director
How Good Steward Financial Company Responded
The Good Steward team began with the cleanup process, getting the financial records up to date.
“I know I can go to the Good Steward team and have a conversation,”says Davis,”and we can come up with a solution for anything that comes up.”
The trust level developed very fast, and at this point, they’re just a part of the team.
The Results
Edmonds Food Bank has cleaner financial processes, more timely reporting, and improved record keeping for in-kind information and other donations. With much better tracking of their numbers, the board can make decisions more easily, and the executive leadership can confidently face audits and complete grant applications.
“Working with Good Steward has made us more efficient,” adds Davis. “I’m not spending as much time dealing with all the balls in the air, which opens up time for me to do other stuff. That’s made me better at what I do.”
After a year of partnership, the relationship between edmonds food bank and Good Steward Financial company is solidly in place. It’s a partnership between a nonprofit with a mission and a virtual bookkeeping firm that fully buys into that mission.
If your accounting system is complex and outdated, reach out to the Good Steward Financial team to see how we can help you get your time back with fully automated and integrated bookkeeping. Schedule your FREE consultation today.
