Certified EO is excited to spotlight Venturity Financial Partners, a Dallas-based firm providing outsourced accounting and CFO services to small and growing companies. Since establishing its Employee Stock Ownership Plan (ESOP) in 2020, Venturity has embraced the long-term endeavor of building an ownership culture by practicing open management and aligning the success of the company with the well-being of its newly-appointed employee-owners.
While the company’s ESOP is relatively new, Venturity’s leadership team has taken key steps in establishing early momentum towards the sustained success of its employee ownership program, both in terms of company culture and wealth building potential for its team members. As a practitioner of The Great Game of Business, Venturity has implemented open-book management and offers ongoing accounting training to its staff, all with the goal of improving the company’s performance and deepening employee engagement (Certified EO previously spotlighted the pioneer of The Great of Business’s practices, SRC Holdings Corporation).
Venturity launched in 2001 after the company’s founders identified a critical need among a potential base of clients for outsourced accounting services, especially for smaller, dynamic teams where functions like bookkeeping, reporting, and forward-looking financial planning can be difficult to perform internally at a high level. Having grown significantly over the next 20 years, Venturity took its first step into the community of employee-owned companies by transferring 20% ownership of the company’s shares to its newly-formed ESOP with the goal of moving to 100% employee ownership over the next 10 years. Now with over 45 team members eligible and enrolling in the ESOP, the company’s growth will stand to benefit each individual’s retirement savings, rather than accumulate to a more concentrated group of owners or a third-party ownership group.
With a growing demand for outsourced financial services, Venturity offers its clients ongoing support for financial management, as well as more time-bound projects. The company is part of an increasing trend to offer fractional CFO services, where a qualified CFO may be engaged on a part-time or retainer basis as needed. A fractional CFO can offer flexible support to small companies for key decision making areas, including long-term growth planning, strategic troubleshooting, and overseeing an audit or financial reporting process.
Beyond the day-to-day work, Venturity’s team is also frequently involved in volunteering time to local schools and charities. The Venturity Cares Committee organizes these efforts, similar to how a communications or cultural committee might organize educational, social, and other programming to build engagement with and understanding of employee ownership topics. The Venturity team has logged nearly 2,600 volunteer hours since 2016, and team members have made nearly $25,000 in charitable contributions over the past five years.
Venturity has received additional recognitions for its workplace culture, performance, mission, and impact, including Best and Brightest Companies to Work For, the Dallas Business Journal’s Best Places to Work, and Forbes Small Giants.