Economic development council modernizes multi-entity financial operations with Intuit Enterprise Suite

Finance team of one suports three nonprofit entities

Tampa Bay Economic Development Council (TBEDC) operates three related entities, including a 501(c)(6) and two affiliated 501(c)(3) organizations, with approximately $5.1 million in combined annual revenue. Finance and administration are managed by a single resource, led by VP of Finance and Administration, Jasmine Pyles.

Shortly after joining the organization, Pyles identified opportunities to modernize financial processes, improve reporting capabilities, and streamline multi-entity accounting. Following an evaluation of available solutions, Tampa Bay EDC selected Intuit Enterprise Suite to support its evolving operational needs.

Operating across multiple entities with manual processes

Prior to implementation, the organization managed three separate entities through QuickBooks Desktop using individual company files and distinct charts of accounts. Intercompany transactions required manual entry and reconciliation, adding complexity and extending close timelines

Supporting processes were largely maintained in spreadsheets, including deferred revenue, fixed assets, prepaid expenses, and budgeting. Board reporting involved exporting financials into Excel, reformatting them, and assembling reports manually each month. This structure limited visibility and created inefficiencies for a lean finance function managing multiple entities.

According to Pyles, one of the organization's primary goals was to centralize information, improve visibility across entities, and reduce the administrative burden associated with recurring financial processes.

Evaluating and implementing a new solution

Pyles led the evaluation process, seeking a solution that could support multi-entity operations without the cost and complexity associated with traditional ERP systems.

After reviewing several options, Intuit Enterprise Suite was selected based on familiarity, functionality, and alignment with nonprofit budget considerations. The implementation was completed quickly, with minimal disruption to operations.

Streamlining accounting and reporting processes

Following implementation, several process improvements were introduced:

• Automated bank connectivity and reconciliation, reducing manual effort
• Centralized multi-entity visibility, enabling easier oversight across entities
• Intercompany functionality, simplifying cross-entity transactions
• Streamlined reporting workflows, reducing manual formatting and assembly

These changes contributed to a reduction in time spent on recurring accounting tasks and month-end close activities. Internal estimates suggest overall close timelines have improved meaningfully, with board reporting preparation requiring less manual effort than before. AI-assisted reporting features also help highlight potential variances and items for review, supporting a more efficient review process.

Supporting ongoing operations

With more efficient workflows in place, the finance function is able to manage current operations with greater consistency and less reliance on manual processes. Time previously spent on repetitive tasks has been partially reallocated toward higher-level financial oversight and planning activities.

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