As the financial crisis of the past decade and the difficult-to-forecast political and economic future have shown, it is imperative that organizations understand the financial risk factors they face.
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A recently released study of nonprofit financial health (based on 990 data) by SeaChange Capital Partners, Oliver Wyman and GuideStar, “The Financial Health of the United States Nonprofit Sector: Facts and Observations,” shows that dramatic improvements are needed to bring stability to vital programs and to the communities they serve. These national findings echo studies done by the same groups in New York and Philadelphia.
This workshop is based on the most current information on what should constitute red flags in your finances in the current social context.
In this webinar, we will identify tactics to strengthen financial resiliency in your nonprofit.
Participants will gain an understanding of:
- The most common risk factors for nonprofit financial wellbeing and how they showed up in these three studies
- How risks show up differently in different kinds of nonprofits
- The short- and long-term steps that organizations should take to better mitigate those risks
- Special attention will be paid to the various leadership roles that staff as well as board members and funders can play in supporting nonprofit fiscal health
- The value of having a regional approach as well as an organizational one. A community snapshot can aid in putting a particular nonprofit’s financial health in context among its geographic peers