Kate Barr is the President & CEO of Propel Nonprofits, a certified Community Development Financial Institution in Minneapolis with the mission of fueling the impact and effectiveness of nonprofits with guidance, expertise, and capital.
AN NPQ CLASSIC. There is a world of difference between financial management and financial leadership, and refocusing your approach from fiscal management to fiscal sustainability and agility gets you there. Outlined in this expert guide are such essential steps as transforming your annual budget analysis, deciding whether or not income diversification is the way to go, achieving a robust reserve, and equipping your board for effective financial governance.
FROM THE ARCHIVES:
As we head into a time of uncertainty in terms of policies and funding streams, the wise nonprofit executive will be planning a session to help their board members understand the organization’s business model and warning signs of trouble ahead.
Every nonprofit at some point has to make difficult decisions about what to subsidize and what to let go. There are always limited dollars to spread around to pay for things. Where do you spread it, and how far do you go?
Nonprofits can feel like philanthropy’s “tiny dancers”—performing the latest and greatest ideas at philanthropy’s behest, whether or not the intervention fits the organization’s infrastructure and practice. But every so often a proposed “new” management practice leads to meaningful change.
AN NPQ CLASSIC:
There is a world of difference between financial management and financial leadership, and refocusing your approach from fiscal management to fiscal sustainability gets you there. Outlined in this expert guide are such essential steps as: transforming your annual budget analysis; deciding whether or not income diversification is the way to go; achieving a robust reserve; and equipping your board for effective financial governance.
NPQ’s Ruth McCambridge talked with Jon Pratt of the Minnesota Council of Nonprofits and Kate Barr of the Minnesota-based Nonprofit Assistance Fund to get a sense of what a Minnesota state government shutdown would mean for nonprofits and what the two organizations are doing to prepare groups for what is expected to be weeks of life in limbo. Our conversation begins with the judge’s decision, and quickly moves to take on the larger issue of the impact of this shutdown on nonprofits – guidance for nonprofits in the state, special loan funds to bridge the shutdown, and the role of the media during the run-up to the shutdown.
Charter schools have become a robust – if somewhat controversial – mechanism for experimenting with new and promising approaches to K-12 education, but a relatively new budget technique of deferring, or holding back, current aid has made funding charter schools in Minnesota more difficult.
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