Financial Services
Cook Inlet Tribal Council, Incorporated (CITC) has been offering accounting services to non-profit organizations for over 20 years. Initially, CITC provided accounting services to affiliated Alaskan Native organizations. In 1999 The Foraker Group (Foraker) approached CITC about expanding the accounting services clientele to include a full spectrum of Alaskan non-profit organizations.
Since 2000 the Shared Services client base has increased from six organizations to over 40 non-profit organizations. These organizations are served by a team of 28 employees in the Community Shared Financial Services (CSFS).
CSFS has clients stretching from Seward to Bethel. The clientele include organizations from all spectrums of the non-profit sector. CSFS does the accounting for human services organizations, environmental and preservation organizations, community support agencies, cultural heritage organizations and educational foundations.
CSFS provides a vast array of accounting services depending on the needs of the non-profit organization. We can provide a range of accounting services from just transaction processing to more robust full service needs, including processing and reporting. CSFS also provides consulting services to help non-profit organizations streamline their accounting practices or to prepare for an audit. (Please note CSFS does not perform audits or financial statement reviews.)
CSFS provides expertise through a department structured to ensure all an organization's financials needs are addressed. By "sharing" accounting staff with other organizations, participant organizations (or clients) share the cost and have access to the skilled staff within CSFS .
Benefit to the Community - the Social Return on Investment
Sharing the costs in the Shared Services model frees up much needed resources. CSFS not only saves our clients money on accounting services but allows them to focus more on their mission and their own service delivery. The accounting services CSFS provides impact the community indirectly by strengthening the non-profits CSFS serves.
CSFS also results in a higher level of accountability to the community that supports non-profit organizations. Generally, small non-profit organizations have hired bookkeepers that do not possess the qualifications or experience for financial reporting and general financial management. CSFS brings a level of experience and qualifications to non-profits that need to promote accountability and sound financial management.
Community and Client Support
Foraker and CITC have received praise for the work being done by both organizations. CSFS's current clients have been thankful and proactive in the accounting services they receive. Many have referred other organizations to CSFS . Below are some of the comments CSFS recently received from clients:
"Cook Inlet Tribal Council is an invaluable resource with regards to the accounting and financial reporting for the Anchorage Downtown Partnership. Their level of professionalism and responsiveness to the growing needs of our organization has been instrumental to our success. I highly recommend their services to other tax exempt organizations."
Michael Janson, Board Member
Anchorage Downtown Partnership
"I have found working with Cook Inlet Tribal Council's accounting department to be the best decision for our agency. As a small non-profit, we couldn't afford the professional level of service we now receive. My board of directors really appreciate the clear reports, and high level of accuracy in our financials. I trust the information I receive from them and so am better able to make managerial decisions based on solid financial information. I consider Cook Inlet Tribal Council's accounting department a partner in meeting the mission of my agency."
Julia Thorsness, Hospice of Anchorage
3600 San Jeronimo Drive
Anchorage, Alaska 99508
907-793-3430 phone
907-793-3466 fax
