The Primary Care Collaborative (PCC) is a nonprofit, multistakeholder membership organization dedicated to improving the nation’s health by strengthening primary care. They engaged Talley after an incoming president realized that their previous firm had mismanaged their finances, resulting in multiple years running in the red and a massive audit run by PCC that discovered the extent of the issue and the need for a new accounting partner.
How to Get an Organization’s Finances Back on Track
With a small full-time team, many of whom were wearing multiple hats at the organization, PCC needed more than just a traditional accounting service. They required a reliable partner who could take on their financial management burdens, provide strategic guidance, and allow them to focus on their core mission of revolutionizing primary care. The organization needed more than just a cleanup; they needed a strategic ally to not only rectify past mistakes but also pave the way for a sustainable financial future. Enter Talley.
This partnership was envisioned to extend beyond mere accounting fixes, aiming instead to provide strategic financial leadership and operational support. With the lean team already stretched thin across multiple roles, PCC's need for a partner who could seamlessly integrate and alleviate the financial strain was imperative. Talley’s role would therefore be pivotal in transforming the financial landscape of PCC, setting a new course towards financial health and organizational efficacy.
The challenge for Talley was multi-dimensional: to rectify the existing financial mismanagement, to enhance the organization's financial processes for increased efficiency and sustainability, and to provide valid and reliable financial statements to inform the Board. Talley was tasked with a substantial responsibility to not only address the immediate financial issues but also to implement systemic changes that would ensure long-term stability and growth for PCC. The aim was to rebuild trust, establish a solid financial foundation, and create a framework that would allow PCC to thrive and pursue its ambitious goals without the looming concern of financial instability hindering their progress.
A Collaborative Journey to Financial Stability
The collaboration between PCC and Talley initiated a comprehensive review and restructuring of financial management practices within the organization. This partnership transcended traditional accounting roles, with Talley offering strategic insights and operational solutions that addressed the core financial challenges PCC faced.
Marsha Flood from Talley was a key figure in this transformation. Her expertise went beyond number crunching; she became a strategic advisor and a problem-solver whose contributions were instrumental in streamlining financial operations. Her approach involved a proactive engagement with financial tasks, effectively reducing the burden on PCC’s staff and enabling a more focused approach towards their mission.
"It really feels like having an accounting partner rather than just someone we've hired to do our books." - Allie Clark, PCC
Marsha worked closely with PCC to reimagine their financial processes. Regular meetings, open communication, and a shared commitment to efficiency became the norm, ensuring that PCC's financial engine ran smoothly and the financial processes were aligned with PCC’s broader objectives. This reimagined financial strategy not only involved rectifying past errors but also establishing a robust framework for budgeting, grant management support, and financial planning.
This level of engagement from Talley was instrumental in redefining PCC’s financial strategy and operational focus. Marsha’s support was particularly noteworthy for her ability to take complex financial concepts and translate them into actionable insights, thereby empowering PCC to make informed decisions and focus on their core objective of advancing primary care.
“She's been a great representative to have. When we have our board meetings for our finance committee, she'll come on and she'll explain stuff in a way that's really easier for them to understand, and also be able to answer some of our hard questions. We have one of our board members on our finance committee who started out as an accountant, so sometimes her questions can get pretty specific, and Marsha's always handled it really, really well, in a way that I can't.” - Allie Clark, PCC
From Uncertainty to Impact: PCC's Financial Renaissance
Through the partnership with Talley, PCC witnessed a transformative shift in its financial management, transitioning from a state of uncertainty to one of stability and strategic growth. This newfound financial clarity and stability had a profound impact on PCC's operational and strategic capabilities. They moved from operating in the red to establishing long-term funds and making strategic investments.
“The advice and the guidance that has been given to us by [Talley], has just been essential in allowing us to build our business and build the organization into a place where we now have savings and a fund that we can use to pour into projects that are not just operational, but that are aspirational.” - Allie Clark, PCC
The organization was now positioned to make informed decisions, pursue strategic investments, and embark on aspirational initiatives that were previously out of reach. Those aspirational projects include a much-needed website redesign, and a strategic planning process for the board, which was fully funded by a fund established with Talley’s help.
“Our reporting has gotten so much better... And when your reporting is better than your planning is better. And when your planning is better than you end up succeeding.” - Allie Clark, PCC
Additionally, with the newfound clarity into the organization’s finances, staff were able to identify that the annual conference, meant to raise funds for the organization that could be used to further the mission, was so time-consuming to organize and plan that in its current state, it wasn’t worth holding every year. Instead, funds that would go to the conference were funneled into developing a new communications campaign to better advocate for policy changes around improving primary care and public health outcomes.
The partnership with Talley has been transformative for the Primary Care Collaborative. It has not only streamlined their financial processes but also enabled them to focus on their mission of improving the health of the nation by strengthening primary care. This engagement demonstrates the power of effective financial management in supporting an organization's mission.
Since Talley assumed control of accounting management for PCC, the organization has seen a remarkable shift. Through meticulous oversight, strategic financial planning, and partnering with their CEO, expenses have decreased by an impressive 21.4% over the course of their partnership. Additionally, the organization’s operating surplus has surged by an impressive $258,417 over the course of their collaboration!
Talley's expertise and keen financial acumen has paved the way for a more financially sound and efficient future for PCC, and has been instrumental in allowing PCC to undertake ambitious projects and advocate for policy changes that could have a significant impact on the nation’s health. Through responsive, human-centered service, Talley has enabled PCC to focus on their critical work in transforming primary care, setting the stage for a healthier future.
If your organization is looking for support with accounting, finances, or any aspect of association management, please reach out — we are here to help associations thrive.
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