As a nonprofit board member, you are ultimately responsible for the financial health of your organization. You must first understand your financial situation in order to make informed decisions and provide strategic leadership.
Budgets are the foundation of nonprofit finance and are vital to your organization’s strategic planning and management. Budgeting can seem overwhelming, but it doesn’t have to be.
Nonprofit finance may seem like a game you can only play once you know the rules and the secret handshake. In reality, once you know the conditions and terminology, you will realize how simple and essential it is to your work and the health of your organization.
At your nonprofit, you deal with a lot of data. From program statistics to financial goals, the data can be overwhelming, especially if you need to dig through the data to get the answers you are looking for. Dashboard reports are a great way to distill data to some key measures and make meaningful comparisons to benchmarks and goals. With greater clarity, you can focus on the most relevant information to make strategic decisions.