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Nonprofit finance

Merushka Chetty

Wendy Laxton – Fund Accounting Explained: Why Grant Money Gets Spent Wrong

In this episode, James Kennedy sits down with Wendy Laxton, founder of Laxton CFO Services, to unpack the “modern” version of fund accounting – how nonprofits manage restricted vs. unrestricted funds, align grant requirements with real-world operations, and avoid credibility-killing misallocations. Wendy shares how the 2008 recession unexpectedly led her into fractional CFO work, why niching down to nonprofits was a defining move, and what she’s learned from guiding organizations through system complexity – from overbuilt ERPs to intentionally “resetting” in QuickBooks and rebuilding structure over time.

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Merushka Chetty

Nick Bilotta – The Medieval Accounting Trick That Still Works Today

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.

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Merushka Chetty

Corey Friedman – From Corporate Burnout to Hospital Mogul in 10 Years

In this episode, James Kennedy sits down with fractional CFO Corey Friedman to unpack two meaty finance arenas: (1) buying and turning around distressed hospitals, and (2) making nonprofit dollars go further with strong grant governance. Corey shares how to read the real story in financials, what diligence looks like when acquiring a hospital, and the practical ways nonprofits can satisfy funders while staying mission-first.

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