Communication is Key to Financial Leadership

If you’ve ever read anything about leadership development, you are well aware of how crucial communication is for leaders. They need to articulate their vision, discuss strategy, woo donors, and motivate staff. We know the difficult consequences that can arise when communication breaks down and how leaders often need to over-communicate in tough times to help turn things around.

IRS 990: What’s in it for me?

When nonprofit organizations complete the IRS 990, the standard federal reporting requirement for nonprofit organizations, most probably aren’t thinking about how they will use the form. The 990 is essentially a compliance document, explaining to the IRS the mission, governance, program activities and financial situation of an organization for the prior year. The IRS uses the form to not only make sure the organization still exists, but also to check to see that the organization is meeting the rules for charities, and basically doing the things that it said it would do.

Déjà Vu All Over Again: Nonprofit Survey Results

Déjà Vu All Over Again: Nonprofit Survey Results
“It’s been a rugged three years for Minnesota’s nonprofits, years characterized by economic instability, management uncertainties, and fundamental shifts in a once-familiar external landscape. Still reeling from significant financial downturns, many nonprofits have used the last few years to take a long, hard look at their internal capacities and financial requirements.”

How Board Members Can Learn to Spot the Red Flags

Here we go again. A few weeks ago Nonprofit Quarterly reported about the fallout from reports by FEGS Health & Human Services in New York of an unexpected $19.4 million loss:  changes in the executive office and cuts to programs and budgets. Like many others in the sector, one of my first reactions is to ask, “Where was the board?”

Is your board on board with financial leadership?

Stephanie Jacobs writes about four concepts board members need to understand to be effective financial leaders.

Balance Sheet? Who cares?

We acknowledge that not every one will love the balance sheet as much as we do. In this post, Stephanie Jacobs suggests moving beyond financial jargon and using the balance sheet as a tool to identify different things nonprofit staff and board members do care about.

Depreciate your way to a healthier nonprofit

Depreciation is seldom given the respect it deserves. For many who are first encountering the term, it is a mysterious financial concept best considered only by CPAs. At Nonprofits Assistance Fund, we hold depreciation among our favorite tools for building reserves and planning for the future stability of an organization.

Do you equip your board for financial strategy?

In this post, Kate Barr stresses the importance of preparing financial reports for you boards, and why they always need to be more than just data and numbers.

Giving the board what they need, when they need it

How does your nonprofit communicate financials to your board? Stephanie Jacobs defines the three modes of board governance, and explains the types of resources and information that makes sense for each mode.

Correlation, causation, and communication

Steve Boland stresses the importance of using financial reports to tell stories, and the impact those stories can have on the mission of your organization.