WEBINAR: Keeping the Focus on Financial Health, Sustainability, and Operating Reserves
May 1 @ 1:30 pm - 2:30 pm
Financial health is a key component of sustainability and could be argued the most important factor. Without financial health, nonprofit organizations will be greatly limited in their efforts to deliver on mission, procure funding, and be a sphere of influence. To obtain financial health, senior leadership (Board, finance committee, and senior management) must be well informed of the moving parts that make up financial health and how to monitor changing status and conditions. Financial health is best observed on the balance sheet and keeping a close eye on operating reserves. We will explore how to help senior leadership to better understand and monitor the balance sheet and operating reserves and from an income statement point of view, we will discuss the hidden benefits of segregation of duties and impact of overhead expenses and allocation of indirect costs and impact on the “bottom-line”. We will finish with a “Quick Takeaways” roundtable discussion covering short and intermediate cash management, monthly distribution of financial reports, and the importance of regular communications between development and finance departments and cash management target Policies.
- – Learn about how to help senior management to better understand the balance sheet
and operating reserves and impact on financial health.
- – Explore options and strategies for managing overhead expenses and allocation of
indirect costs and the hidden benefits from expanded segregation of duties.
- – Learn about the benefits of short and intermediate cash management strategies and
monthly distribution of financial reports.
- – Discover how enhancing communications between the finance department and
development department is critical to compliance and meeting donor expectations and