Ideal Customer Profile - Non Profits

As a Tangicloud Fundamentals Partner, you have the opportunity to provide fund accounting solutions to the nonprofit market, which is growing rapidly and has significant financial needs. Nonprofit organizations are a critical component of the US economy, with over 1.5 million registered nonprofit organizations in the country. These organizations employ millions of people and generate billions of dollars in revenue annually.

Nonprofits have unique financial needs, with many relying on grants, donations, and other forms of fundraising to support their operations. This creates a need for robust fund accounting solutions that can track contributions, manage grants, and provide detailed financial reporting. Nonprofit organizations also face regulatory requirements, such as the need to maintain proper accounting records and comply with tax laws.

By providing fund accounting solutions that meet the unique needs of the nonprofit sector, Tangicloud Fundamentals Partners can tap into a significant market opportunity. This includes:

• The nonprofit sector generated $2.7 trillion in revenue in 2019, with over $450 billion in donations and contributions.
• Nonprofits employ over 10% of the US workforce, with over 12 million people working in the sector.
• The unique financial needs of nonprofits create a high demand for fund accounting solutions that can help these organizations manage their finances more effectively.
• Nonprofits are subject to regulatory requirements and must maintain proper accounting records, providing an ongoing need for fund accounting solutions.
• By building long-term relationships with nonprofits, Tangicloud Fundamentals Partners can create recurring revenue streams and build a strong customer base in this growing market.
• Overall, the nonprofit market presents a significant opportunity for Tangicloud Fundamentals Partners to provide valuable fund accounting solutions and build long-term relationships with nonprofit clients. By understanding the unique needs of the nonprofit sector and positioning your product as a solution that can help these organizations manage their finances more effectively, you can tap into this market and grow your business.

Reference Links:

• Nonprofits make up the third largest workforce in the US, accounting for 10.2% of all private sector employment, according to the Bureau of Labor Statistics. (Source: https://www.bls.gov/opub/btn/volume-7/mobile/employment-in-nonprofits.htm)
• There are approximately 1.5 million IRS-recognized nonprofit organizations in the US, according to the National Center for Charitable Statistics. (Source: https://nccs.urban.org/publication/quick-facts-nonprofits)
• The nonprofit industry is a major contributor to the economy in most states, with 5% or more of the workforce employed in the sector. In 2021, 47 states had at least 5% of their workforce employed by nonprofits, according to the Johns Hopkins Center for Civil Society Studies. (Source: https://ccss.jhu.edu/workforce/)
• Nonprofits are particularly important employers in certain states, with 10% or more of the workforce employed in the sector. In 2021, this was the case in 21 states, according to the Johns Hopkins Center for Civil Society Studies. (Source: https://ccss.jhu.edu/workforce/)