Through The Noise
November 19, 2015
Cathy Galbraith and Nicolie Lettini of CostTree on How to Pay Nonprofit Staff More
Through the Noise #124
Nicolie Lettini and Cathy Galbraith // CEO & Founder and Managing Director // CostTree
Ever wondered where your money is going? Looking through your books at the end of the quarter or end of the year to discover that all your hard-raised money has evaporated into unforeseen costs? This is a common problem for nonprofits who have yet to figure out the difference between direct and indirect costs and how to accurately anticipate and budget for them. If your organization has struggled with these issues before, you won’t want to miss this episode with Cathy Galbraith and Nicolie Lettini of CostTree, a software that tackles these issues so you never have to guess again. Getting a firm grasp on these elements will help you sleep better at night and, who knows? Maybe you’ll be able to allocate some money for that raise…
Overhead on the mind of most nonprofit leaders these days. The new Uniform Guidance, which pulls together eight different OMB circulars, has changed the way federally funded nonprofits get reimbursed for their indirect costs (overhead). For more than 16 years, CostTree’s CEO, Nicolie Lettini, has created cost allocation plans and indirect cost rate proposals (ICRP) for government agencies. Now she is bringing that experience to the nonprofit world. According to Lettini, “It’s time to stop starving nonprofits and allow them to achieve their true impact. It starts with reimbursing them for their true costs,”
Cathy Galbraith, Director of Nonprofits, focuses on educating and training nonprofits about cost allocation and cost rates. Her mission is to help nonprofits understand how to create an indirect cost rate, how to use it in everyday strategic development and how to ensure organizational accountability and sustainability.
CostTree is a cloud-based cost allocation software that simplifies the process of creating an indirect cost rate and allows for maximum transparency.