Frequently Asked Questions: the Who, What, Why, When, Where, and How of k-squared
When I hire k-squared, who can I expect to take care of my operational and financial consulting?
Karen Kennelly will be your primary contact. You can find out more about her experience and immersion in the nonprofit world here.
What, exactly, do you do?
The answer to this question varies depending on your not-for-profit’s needs. Generally speaking, Karen Kennelly and k-squared provide financial and operational consulting for nonprofit organizations. One of the primary ways in which she does that is through providing outsourced CFO services. You can find out more about the kind of work Karen does here, and about her background here.
If you’re not sure if k-squared’s services are what your nonprofit needs, you can request a meeting [link to contact page] with Karen. She’ll have a conversation with your leadership team and determine how and if she can help you out.
What happens in the first meeting with Karen?
Karen comes prepared to talk about your not-for-profit’s needs. She discusses typical engagements k-squared has with similar clients and tells you more about her background. She finds out about your organization–your history, your services, as well as how you’re staffed and the responsibilities of those in the operations and financial areas of your nonprofit.
Most importantly, Karen asks you questions, such as: What are your biggest concerns from a financial perspective? What information would you like to see and how often would you like to see it? What information do your constituents need to know from you?
What doesn’t k-squared do?
Because Karen has a high level of expertise and concentrates on providing financial guidance and oversight, your not-for-profit may find that it’s more cost-effective to have someone else take care of the day-to-day bookkeeping, for example. If you’ve engaged her services and need someone to do transactional financial work, she helps you figure out the best person to do the job–whether it’s an office manager already on staff, an individual she can recommend, or a subcontractor she can hire.
Why might a nonprofit organization benefit from this kind of arrangement?
Often, executive directors and leadership teams don’t know exactly what they need in terms of financial services. Karen helps you pinpoint how best to manage your resources and comply with regulations. Having a strong financial leader in place allows you to focus on your mission and rest easy that the business of your nonprofit is being appropriately guided.
When and where do you work: on-site, by remote?
When you engage Karen’s services as an outsourced CFO or controller, she’ll arrange to be on site at your office on a regular basis as fits your needs (weekly, monthly, quarterly or otherwise). She believes her physical presence in your office allows both parties to get the most out of the experience because she can answer questions quickly and get to know your not-for-profit’s organizational culture. However, that’s not the only time Karen works for you; she’s still available when she’s not physically in your office. She can address concerns, answer questions–and even put out fires–through remote access.
How can you do this work on a part-time basis for multiple not-for-profits?
Because of Karen’s level of expertise, she’s able to tackle the work more efficiently. You might pay a lower level, less experienced person to work full-time to do the same amount of work that she can accomplish in significantly less time.
How does this process work for a typical client?
There are three steps: 1) identification of needs, 2) formulating a plan and agreeing on timing and scope, and 3) engagement. For more information on what this means, see how the process works.
Want more information? Set up a call with Karen.