Maximizing Nonprofit Impact & Efficiency in a Challenging Environment

How Trustward helped the Virginia Press Association navigate accounting complexity and steward their finances for maximum impact.

The Challenge: Unclear Impact, Complex Process

In the Virginia Press Association conference room, there are photos of board presidents dating back to its founding in 1881. Throughout their storied history, they’ve advocated for local newspapers and media organizations across the state and championed the freedom of the press. In 2018, Betsy Edwards became VPA’s Executive Director, and realized she needed to clarify her financials so that she could maximize every dollar to accomplish their mission. A significant portion of VPA’s revenue comes through a complex process with multiple stakeholders who need accurate information, and the complexity made it difficult to steward their resources effectively. The challenging environment for local news organizations across the country only heightened the need for clarity.

The Solution: Trustward Cut through the Complexity

She quickly contracted with Trustward to bring clarity to VPA’s finances. Trustward immediately redesigned VPA’s Chart of Accounts and financial processes to improve monitoring of their revenues and cash-on-hand. Among other things, the redesigned accounting system clarified exactly how much was retained by VPA and how much was passed through to its members, giving Betsy the clarity she needed for long-term planning and effective financial management.

Since then, Trustward has helped VPA navigate selling a facility, operating during COVID, and establishing new programs to support local newspapers.

The Results: Advancing the Mission, Despite a Challenging Environment

Seven years later Trustward is still working with the Virginia Press Association to meet the challenges in a rapidly changing industry and to advance their mission over the long-term.

As VPA executive director Betsy Edwards puts it:

“Trustward has been an indispensable partner in helping the Virginia Press Association navigate financial complexities and thrive in an ever-changing landscape. Their expertise in our financial systems brought the clarity we needed to maximize every dollar toward our mission. From streamlining our revenue processes to guiding us through selling a facility and managing the challenges of COVID-19, Trustward has empowered us to continue our advocacy for local newspapers. Their long-term commitment to our success has been a cornerstone of our ability to grow and adapt in these turbulent times.”

Are Your Organization’s Accounting Challenges a drag on Accomplishing your Mission?

Let’s talk about how Trustward can help you overcome those challenges and make a difference over the long-term.