WEBINAR: Nonprofit Financial Boot Camp (2-part workshop)
October 22 @ 9:30 am - October 23 @ 9:30 am
Faculty: A. Michael Gellman, CPA, CGMA, Fiscal Strategies 4 Nonprofits
Course Objective: This 6-hour webinar will be presented over two mornings: October 22 and October 23, from 9:30-12:30 on both days.
Part One: Thursday, October 22, 9:30-12:30
During these difficult times, many nonprofit organizations are looking to stabilize finances and improve sustainability to stay viable. This session will give you valuable tools needed to develop financial sustainability practices and oversight that will strengthen your financial management systems and improve accountability and enhance sustainability.
Given the current difficult economic conditions and hyper-changes taking place, being financially nimble is now a necessity. In this first session we will discuss how budgets can be used to adapt to changing economic conditions and protect your organization’s resources. This interactive presentation will explore the concepts behind projection-based budgeting and how to fully integrate the non-financial manager, staff and board member into the budget process to help your organization realize its full potential and maximize the use of its limited resources.
Discover how budgets can be the catalyst to interactive sharing of information and resources between management, board and staff. Participants will be fully engaged through the use of a series of rolling budget case studies that they will have to directly interpret and analyze. Concepts will be explained based on the use of direct real-life situations.
This workshop will also explore the budget building process, emphasizing how budgets work and how to make budgets work for you. You will receive valuable guidance on planning, the budget cycle, budget reporting and budget preparation techniques.
Part Two: Friday, October 23, 9:30-12:30
The second morning session begins by exploring the key differences in accounting practices between nonprofit organizations and for-profit entities, with a focus on issues related to nonprofit organization funding driven by sponsorships, grants and contributions.
Next, we will discuss the key components of nonprofit financial statements so you will have the skills necessary to ask probing questions and teach your senior management, board and staff how to identify “red flags.” Group problem solving and a case study will be used to provide an opportunity to try out your new learned skills.
We will finish with effective financial messaging techniques and participants will be provided with sample projection-based dashboards they can adapt for use with their board of directors.