With The Financial Edge, MMDG is able to manage a $6 million operating budget with a Finance staff of only three all while the Dance Center grew from $100,000 in revenue to over $1 million and added four studios.
“I couldn’t do my job without The Financial Edge. With it we can work smarter, not harder,” said Elizabeth Fox, chief financial officer for Mark Morris Dance Group. “It allows us to focus on growing our business and not the little tasks. We are able to grow without having to add staff, can be more reactive to our customers needs and can make better, more informed business decisions. The growth we have experienced would not have been possible without The Financial Edge.”
MMDG is able to code every expense to a specific program, such as school, outreach or touring in the Financial Edge. This not only ensures payroll is accurate, it also allows MMDG to run income statements on all activities and make sound financial decisions regarding the effectiveness of its programming.
For Fox, the fast, flexible reporting and query functionality in The Financial Edge is key to the organization’s success. The reports provide MMDG with easy access to the information needed to make the best decisions.
Finally, with Accounts Receivable, MMDG is able to manage seven studios each with five different rates. It can easily look up the usage and income for each studio. Fox can find out how many hours each studio was rented and at what price. This helps MMDG analyze space usage to make better decisions and accommodate detailed grant reporting.