Financial Care was launched in 2020 in response to a prevalent need for emergency financial assistance for artists within our community.
Financial Care (FC) best serves artistic entities that feel their finances or financial practices need an expert’s eye and someone with advanced Quickbooks accounting software skills. FC is ideal for artistic entities that have undergone staff changes and/or lack sound financial policies and procedures. To determine what areas require attention, entities will be provided with an initial assessment to create a customized plan outlining what areas of assistance might be necessary to build a strong financial structure.
The artistic entity will undergo a financial assessment with a Pentacle Staff Member, which will help us provide you with a diagnosis and create a customized treatment plan outlining what is necessary to build a strong financial structure. The most common treatment plans will address cash flow issues, the effects of staff changes, and/or the lack of sound financial policies and procedures due to COVID-19. Additional administrative help after the initial number of hours is met can be provided for an additional hourly rate or fee.
Possible AREAS of Assistance
● Cash flow templates and procedures
● Preparation & Presentation of financials for Boards
● Assistance in preparation of grant/loan applications
● Standardizing and simplifying the Chart of Accounts and Class List
● Reconciling and writing off unpaid bills (Accounts Payable), expected income (Accounts Receivable) or unpaid taxes (Payroll Liabilities)
● Customer and Vendor list and records standardization and consolidation
● Correcting coding errors made throughout the year
Pentacle receives private support for Financial Care from the Howard Gilman Foundation.