In this episode, James Kennedy sits down with Nick Bilotta, Founder of Bilotta & Co. CPAs, to explore two powerful concepts often misunderstood in the accounting world: fund accounting and financial storytelling. Nick shares why fund accounting – often dismissed as an “old-school” practice – is becoming more relevant than ever for nonprofits, contractors, and organizations that need transparency, donor confidence, and better decision-making. He also breaks down how great accountants don’t just report numbers – they translate financials into narratives that inspire trust, secure funding, and shape an organization’s future. From motorcycle technician to SEC reporting leader to firm owner, Nick’s unconventional journey gives him a unique perspective on the role of modern CPAs, fractional CFOs, and the importance of clarity in financial communication.
About Nick Bilotta:
Nick is a CPA and the founder of Bilotta & Co. CPAs, a fast-growing remote accounting firm serving nonprofits, construction companies, and SMBs across Washington State and beyond.
With experience spanning SEC reporting at Starbucks, due diligence at Zulily, construction accounting, and nonprofit audits, Nick blends technical mastery with a passion for organizational impact.
A former motorcycle technician and non-traditional student, Nick brings creativity, empathy, and storytelling into every engagement – whether helping a nonprofit secure funding or guiding a contractor through a merger or buyout.
What You’ll Learn:
• What Fund Accounting Really Is
The practical purpose behind unrestricted vs. restricted funds – and why it matters for transparency, donor trust, and governance.
• How Nonprofits Use Fund Accounting to Unlock Growth
How clean reporting becomes a fundraising tool, not just a compliance exercise.
• Financial Storytelling: The CFO Superpower
How corporate finance teams shape narratives that influence investors, boards, and stakeholders.
• The Difference Between Direct and Indirect Cash Flow
And how tools like short-term cash forecasts fit into a long-term modeling system.
• Structuring Audits, Reviews & Advisory for Nonprofits and Contractors
Why internal controls, transparency, and story-driven reporting matter more than ever.
Episode Highlights:
- “Storytelling is about guiding the listener to what matters – past performance and future potential.”
- “Fund accounting isn’t just compliance. It’s a transparency tool that builds donor trust.”
- “Nonprofits that track restricted funds well raise more money – because donors see impact.”
- “Financial models that no one uses are useless. They must become part of the business.”
- “Contractors grow through bonding capacity – and that comes from better financial reporting.”
More About Nick’s Role:
At Bilotta & Co., Nick and his team deliver:
- Fractional CFO and controllership services
- Nonprofit audits, reviews & 990 preparation
- Construction contractor financials, WIP schedules & bonding readiness
- Buy-side and sell-side financial due diligence
- Strategic advisory and financial storytelling for leaders
The firm specializes in helping nonprofits (USD $2M–$100M) and construction companies improve transparency, secure funding, and build long-term financial stability – without offshoring, and with a dedicated U.S.-based team.
