Before we talk pie–and slices of it–let’s put some questions out there. Revenue diversification is a hot topic, to be sure. But there are quite a few different ways to look at it and even to define it. If your nonprofit lost your largest source of revenue, would you shut […]
nonprofit finances
8 posts
Reserve funds can be a key financial piece of the puzzle as a nonprofit seeks financial resiliency. But what exactly are reserve funds? Simply put, reserve funds are unrestricted funds set aside from normal operating funds for the nonprofit. It’s an organization’s savings account. Developing healthy reserves is a key […]
Money in the bank isn’t the only indicator of financial success for a nonprofit organization. In fact, when there is money in the bank, nonprofits often overlook financial best practices that add security and longevity to their mission. Here are some often overlooked nonprofit financial best practices: 1. Build Credit […]
With all the demands of running an organization, executive directors often let their nonprofit financial management go by the wayside. The focus tends to be on the mission, fundraising, education, and other day-to-day management responsibilities, which are all important. Setting aside financial management, however, is a big mistake. This is […]
Working on a budget for 2022? Creating budgets for your nonprofit programs in addition to an overall budget for your organization can seem like overwhelming tasks. Budgeting requires careful record-keeping, evaluation of the past, consideration of the future, and a thorough understanding of your organization’s current context. And here’s the […]
Frugality is a virtue in the nonprofit sector. We’re accustomed to making the best with what we have, which often includes limited funds or resources. And although it’s wise to be good stewards and maximize value, sometimes quality and excellence are sacrificed for the sake of the budget. Does this […]
What connects all nonprofits is the need for fundraising and the need to reach out to people and connect with the community. As with almost anything in 2021, nonprofits can do that not only offline but online too. For example, nonprofits can raise funds through ecommerce by setting up an […]
Enjoy this spotlighted blog from GrowthForce It’s no secret that running a nonprofit is difficult, challenging work. No matter how many regular donors you have, for many executive directors, there’s no guarantee that from month to month your revenue will be enough to further your mission. Costs fluctuate. Pledged funds […]