How the Chicago Dental Society Started
The Chicago Dental Society is one of the largest local dental societies in the US, which has been in operation for more than 160 years! With nine branches across the Chicago area, each operated by dentist volunteers, the branches have dues-paying members and host events with hundreds of attendees.
Branches used to rely on ad hoc methods for collecting payments for their activities, sometimes resulting in long registration lines at events, confusion over dues payment statuses for members, and long hours tracking money trails between all the platforms used for the treasurers.
Between the headquarters and the branches, there was no unified financial system. Each branch managed its own finances and compliance, leaving the finance team and board without clear visibility into the financial activities, health, and tax compliance of the branches.
The lack of oversight became an issue when branch treasurers changed annually and did not always hand over access to the bank accounts. Or when reimbursements fell through the cracks. Or when the HQ needed to keep track of all the banking details of the branches for dues remittance payments.
Keith, the CDS CFO, and his team decided it was time to search for a financial platform that could both unify their branches and bring modern technology into their operations. Luckily, they found Crowded and implemented it across their branches.
How CDS unified and modernized its financial systems with Crowded
Standardized, Modern Tools Across Branches
By implementing Crowded across the society, the CDS team standardized its financial management practices across its branches. Every branch is on the same system, making it easier and more efficient for the headquarters to provide guidance and ensure branch treasurers are well supported.
Also, moving all branches to a digital financial solution would push each branch into the modern tech age. As a society, they are always looking to attract younger members, and moving away from brick-and-mortar banks, checks, and cash, and replacing them with an app, digital cards, and payment links.
Visibility into Branch Finances & Compliance
Keith, or anyone at the society headquarters, can log in anytime and see an overview of the branches from their Related Entities Dashboard. This dashboard includes: the branch IRS compliance status, reported income, and the current treasurer with their contact information. More than just an overview, the admins can filter results and send reminders to branches to ensure they stay compliant.
With Crowded, I can see where every branch stands at any time. It's given our volunteer treasurers the tools to do their jobs confidently, and headquarters the oversight we always needed.
Free & Instant Money Movement
Another upside of all branches on Crowded is free and instant fund transfers between branches and the HQ. No need to write checks or keep track of account numbers; any money movement can happen simply within the Crowded platform, even to multiple branches at once with the Related Entities Dashboard!
Seamless Online Officer Handover
Unlike the challenges the branches faced in changing the signatory on their financial accounts before Crowded, the process can now be completed 100% online. No joint trips to the bank, and no accounts to fall through the cracks with trapped funds. Within a few clicks, the accounts are securely and compliantly handed over to the new treasurer.
Built-in Compliance Tools
It was important for CDS that IRS compliance was well integrated with the chosen financial solution, as they wanted to ensure that their chapters retained their tax-exempt status for the long term. Crowded offers integrated Form 990 filing, where the financial data of the branch is automatically brought into the filing, helping volunteer treasurers complete this filing without hiring an accountant. To help retain org-wide compliance, the headquarters paid for each branch’s required annual Form 990 filing through Crowded!
Modern Payment Collection Tools
When each CDS branch conducts its regular paid meetings and events, they create dedicated Collect payment links for each attendance type on Crowded (dues-paying member, event sponsor, single attendance, etc.). They link the payment link on their organization's website and email marketing, allowing people to register and pay in advance.
They use the built-in payment tracking with Collections for easy event registration and tracking dues-paying members. For the volunteers leading these activities, the unified, easy platform for tracking payments and registrants is a welcome change!
Modern Payment Collection Tools
Instead of dealing with time-consuming reimbursements and asking members to pay out of pocket, CDS treasurers spend with Crowded’s Admin and Expense cards instead. The treasurer issues budgeted Expense cards to members for specific purchases, or they spend themselves with the full balance of the account with their Admin card. No more need for reimbursements, because members are paying with society funds in the first place.
Summary
The Chicago Dental Society has modernized its financial operations by moving all of its branches to Crowded:
- One standard practice across all branches.
- Volunteer treasurers save time on reconciliation
- Members and attendees enjoy modern payment systems and smoother registration.
- Increased financial security with digital signatory handover
