The Nonprofit Financial Advantage: Standing Out from the Crowd

Financial management has always been crucial to successful nonprofits. But these days, it’s become a new litmus test for the viability of a nonprofit’s mission. There is increased financial scrutiny being placed on nonprofit organizations by the general public along with greater expectations by donors to deliver on their mission. Sarbanes Oxley and the scandals of the 90s are more than 10 years behind us, but the results are thoroughly integrated into nonprofit rules and … Read More …

How to Staff Your Financial Team the Right Way

If a nonprofit is going to thrive in today’s environment of increased financial scrutiny, it must have the right capabilities under its roof. This means a Chief Financial Officer or Director of Finance, an Accountant and a Bookkeeper. For small to medium-size nonprofits, however, having a full financial bench is a nearly impossible challenge. The funds don’t exist to cover three separate positions, and there’s not enough work to employee three full time staff. So … Read More …

The Budget Building Block

The budget is a basic building block in a strong financial foundation nonprofit organizations need to realize their vision. This is truer than ever before because increased scrutiny from the public and donors and increased competition for revenue has increased the need for accurate budgets that tie the organization’s goals and strategies to its finances. Many nonprofits struggle with inadequate budgets that take up valuable Board time, create uncertainty about … Read More …

Getting Numbers to Talk

Seeing the story in your finances is the key to decision making. More than ever, nonprofit organizations need a solid financial management foundation and professional financial leadership. Having your Board and senior staff understand your organization’s finances is fundamental to their fiduciary responsibilities and is crucial to meeting the demands of donors and the public. Without it the Board and staff face the potential liabilities of failing their fiduciary responsibilities, … Read More …