Community Brands Virtual Case Study IAOP Webinar.pdf
How Community Brands cut document verification from 2 weeks to <2 days and saved 30% YOY
Session moderated by: Dan Dubiner, CTO ScaleHub
Kendra Foss, Community Brands
scalehub
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Agenda
- Introduction to Community Brands
- Our Pain Points
- Our Solution for SSS
- The Major Results
- SSS Financial Aid vs. TADS Financial Aid
- What’s Next for Community Brands?
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Intro to Community Brands
Kendra Foss
• Product Manager for Financial Aid products
• 12 years of experience in Education Software
• Joined CB in August of 2018
• Focused on market expansion and continued revenue growth
• Enjoys all of the seasons (even the long winters) in Saint Paul, Minnesota with her husband and 2 fantastic kids
Helping passionate people and purpose-driven organizations achieve more for their communities
Solutions for Schools
Enrollment and student management, billing, family engagement, tuition, and payments
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Solutions for Nonprofits
Donor management, fundraising, mobile auctions, fund accounting, and events
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Solutions for Associations
Membership, learning management, career centers, fundraising, and event management
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Solutions for Churches
Church operations, tithing and financial management, communications
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Solutions for Schools
BRANDS
1M+
STUDENTS ENROLLED
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4,000
SCHOOLS SERVED IN THE UNITED STATES
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160+
YEARS EXPERIENCE AMONG OUR BRANDS
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Individual Schools with aid $$ available to families they know
Current Strength in Private K-12 Financial Aid
K12 Financial Aid Business Cycle
- School notifies family of their aid package
- Schools have money to distribute
- Families apply for aid
- Online application
- Documents Uploaded
- Schools review the application and documents to identify need
Primary Objectives of our FA Solutions
- Understand the family financials
- Verify the application with documentation
- Tell schools how much money the family needs
Community Brand’s Pain Points
A comparison in managing the same business through two systems
SSS Pain Points
• Accuracy dipped below 70%
• 10-12 business days for a document type and its year to be verified
• Tax documents opened in full – exposing sensitive PII
TADS FA Pain Points
• 3 business days for a document type and its year to be verified
• Up to 6 weeks for full application verification
• Tax documents opened in full – exposing sensitive PII
Our Solution for SSS
ScaleHub Services
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| Filing Status | Check only one box. | |||||
|---|---|---|---|---|---|---|
| Exemptions | 1 | Single | ||||
| Exemptions | 2 | Married filing jointly (even if only one had income) | ||||
| Exemptions | 3 | Married filing separately. Enter spouse's SSN above and full name here. | ||||
| Exemptions | 4 | Head of household with qualifying persons. See instructions if the qualifying person is a child but not your dependent, enter this child's name here. | ||||
| Exemptions | 5 | Qualifying widow(s) with dependent child | ||||
| Exemptions | 6a | Yourself. If someone can claim you as a dependent, do not check box 6a. | ||||
| Exemptions | b | Spouse | ||||
| Income | c | Dependent(s): (1) First name WILLIAM SEMMA WILLIAMS | ||||
| (2) Dependent's name 11122333 SOMA 12342123 DANGER | ||||||
| (3) Dependent's name to you 86/9484 order age 17 qualifying for child credit (see instructions) | ||||||
| Income | d | Total number of exemptions claimed | ||||
| Income | 7 | Wages, salaries, tips, etc. Attach Form(s) W-2 | ||||
| Income | 8e | Taxable interest. Attach Schedule B if required | ||||
| Income | b | Tax-exempt interest. Do not include on line 8e | ||||
| Income | 9e | Ordinary dividends. Attach Schedule B if required | ||||
| Income | b | Qualified dividends | ||||
| Income | 10 | Taxable refunds, credits, or offsets of state and local income taxes | ||||
| Income | Adjusted Gross Income | 11 | Alimony received | |||
| 12 | Adjusted Gross Income | Business income or (loss). Attach Schedule C or C-EZ | ||||
| 13 | Adjusted Gross Income | Capital gain or (loss). Attach Schedule D if required. If not required, check here | ||||
| 14 | Adjusted Gross Income | Other gains or (loss). Attach Form 4767 | ||||
| 15a | Adjusted Gross Income | IRA distributions 15a b Taxable amount | ||||
| 16e | Adjusted Gross Income | Pensions and annuities 16e b Taxable amount | ||||
| 17 | Adjusted Gross Income | Rental real estate, royalties, partnerships, S corporations, trusts, etc., Attach Schedule E | ||||
| 18 | Adjusted Gross Income | Farm income or (loss). Attach Schedule F | ||||
| 19 | Adjusted Gross Income | Unemployment compensation | ||||
| 20a | Adjusted Gross Income | Social security benefits 20a b Taxable amount | ||||
| Adjusted Gross Income | 21 | Other income. List type and amount | ||||
| Adjusted Gross Income | 22 | Combine amounts in the far right column for lines 7 through 21. This is your total income | ||||
| Adjusted Gross Income | 23 | |||||
| Adjusted Gross Income | 24 | Certain business expenses of reserves, performing arts, and fee-based government officials. Attach Form 2106 or 2106-E2 | ||||
| Adjusted Gross Income | 25 | Health savings account deduction. Attach Form 8899 | ||||
| Adjusted Gross Income | 26 | Moving expenses. Attach Form 3903 | ||||
| Adjusted Gross Income | 27 | Deductible part of self-employment tax. Attach Schedule 5E | ||||
| Adjusted Gross Income | 28 | Self-employed SEP, SIMPLE, and qualified plans | ||||
| Adjusted Gross Income | 29 | Self-employed health insurance deduction | ||||
| Adjusted Gross Income | 30 | Penalty on early withdrawal of savings | ||||
| Adjusted Gross Income | 31e | Alimony paid b Recipient's SSN 31e | ||||
| Adjusted Gross Income | 32e | IRA deduction | ||||
| Adjusted Gross Income | 33e | Student loan interest deduction | ||||
| Adjusted Gross Income | 34e | Tuition and fees. Attach Form 8917 | ||||
| Adjusted Gross Income | 35 | Domestic production activities deduction. Attach Form 8903 | ||||
| Adjusted Gross Income | 36 | Add lines 23 through 35 | ||||
| Adjusted Gross Income | 37 | Subtract line 36 from line 22. This is your adjusted gross income | ||||
| Adjusted Gross Income | ||||||
| Adjusted Gross Income | ||||||
| Adjusted Gross Income |
Double or triple keying of each snippet guarantees 99% accuracy
The Major Results
The ScaleHub services have fundamentally changed SSS.
No one in our market can come close to our speed and accuracy for document verification – not even TADS FA.
The Benefits
• 30% YoY savings in operating costs
• Support volume decreased
• Schools able to identify aid $$ for their families with confidence in a matter of days
SSS Financial Aid vs. TADS Financial Aid
A comparison in document processing
Volume and Speed Comparison
Documents Submitted Q1 2020 Days in Verification
80 35 0.00 0 70 30 0.00 0 60 25 0.00 0 50 20 0.00 0 40 15 0.00 0 30 10 0.00 0 20 50 .000 10 0 0 January February March January February March SSS TADS SSS TADS
© 2020 Community Brands HoldCo, LLC. All rights reserved.
Volume and Speed Comparison
35 0.00 0 80
291.000 70 30 0.00 0 67 60 25 0.00 0
232.000 56 50 20 0.00 0 45 40 15 0.00 0
133.000 117.000 30 111.000 100.000 10 0.00 0 20 50 .000 10 0 0 January February March SSS Volume TADS Volume SSS Days TADS Days
© 2020 Community Brands HoldCo, LLC. All rights reserved.
SSS Pain Points
• 10-12 business days for a document type and its year to be verified
• Accuracy dipped below 70%
• Tax documents opened in full – exposing sensitive PII
• Less than 2 business days to verify all documents
• Accuracy at 99%
• PII data secure and never fully exposed
What’s Next for Community Brands?
TADS FA moving to the SSS Platform
• 90 Pilot Schools onboarded this fall
• One platform for supporting both businesses expected to save CB thousands in COGS
• Verification services from ScaleHub was the catalyst for this investment