What Keeps You Up at Night?
The central factor for the survivability of most nonprofits if financial stability and sustainability- which means that the strategic planning must be done with this in mind, rather than relegating monetary concerns: how do we get it, and what is the best way to steward this .
Most Non Profit’s can’t afford to have specific people in a financial manager position, so how can this be made to work and work smoothly? Your donors need to see it, your stakeholders must have confidence in it.
Urgent vs. Important
Juggling responsible and transparent financial work with constant fundraising and program management can be daunting for a small staff- outside expertise can help relieve the burden. It is not that your Executive Director needs to be an accountant, but guidance on reporting, investment and securities, credit and cash flow are critical to your operation.
Understanding the implications of different kind of donations, gifts and commerce, the reporting responsibilities, tax laws which seem to change daily can distract your staff from the urgency of your mission yet the consequences of a misstep can be dire.
How Do You Make It Work?
Scheduling the day -to -day reporting, weekly practices and regular financial checkups within the company can change a huge frightening looming chore into a very manageable task. Automate acknowledgment procedures, updates, bank reconciliations. Establish a basic budget of projected versus actuals and assure it is updated regularly.
Financial management should not be scary or avoidable, let me help you tame the beast.
Nonprofit financial management can seem almost an oxymoron to those in the trenches: the money dictates so much of what you can do, yet organizing this information into financial statements is often confusing. What does the number in each category mean, and where do they come from?
When your hands are full actually doing the work, keeping on top of every transaction coming and going, developing reports, P & L’s, balance sheets, budgets, and board presentations ( where everyone skips to the notes section anyway) is a little daunting, Using this information appropriately is essential when applying for grants, soliciting private and corporate donors; knowing how to can be the trick.
Banal but Critical
As with so many things, slowing down, and taking the time to automate what you can, and truly ‘get’ what needs to be done at the outset will help tremendously. Having go-to guidance for the utterly banal, but incredibly critical, financial planning, decisions, crisis management, tax reporting and other assorted reporting commitments and compliances serves the organization best: allowing its leadership to make the best decisions for the organization based on an objective status at that moment. Numbers are merely another language, let us help you interpret.