Thriving vs. Surviving: Financial Best Practices Make the Difference
Thursday, September 14, 2017 9:30 am
In-person | New York, NY
How is your organization performing financially? Are you barely managing to eke out a surplus each year? Are your reserves running low due to operating deficits? If your organization is struggling to break even, it’s just surviving. If your nonprofit has a comfortable surplus each year and is developing financial reserves, it’s thriving.
Following financial best practices is a key factor in moving from surviving to thriving. Best practices help your organization get the most of its financial resources by managing money effectively and efficiently to direct more money to mission. In this half-day class, CliftonLarsonAllen Senior Consultant Paul Konigstein and Executive in Residence Ron Benjamin will introduce four critical types of financial best practices and lead you through exercises designed to show you how to tailor these best practices to your organization.
Learn best practices in internal controls, budget creation and monitoring, financial reporting, and investment management. There will be interactive opportunities to work through case studies with your fellow classmates, and lessons for how to adapt best practices to a variety of situations. By the end of this session, you will know how to leverage best practices to maximize the amount revenue that is spent on mission.
Unlock the power of best practices by learning to:
- Create effective internal control procedures in organizations of any size
- Create timely, accurate budgets and use them to benchmark performance
- Close the books and understand why closing is critical for timely, accurate financial reporting
- Design financial reports that your Board and staff want to read
- Manage the cash you don’t need for daily operations
About the Instructors:
Paul Konigstein is a senior consultant at CliftonLarsonAllen, a professional services firm delivering integrated advisory, outsourcing, and public accounting capabilities, where he helps nonprofits master finance and accounting. Prior to joining CLA five years ago, Paul served as a controller and Chief Financial Officer at arts, culture, education, and international development not for profits including the Metropolitan Opera, the New York Hall of Science, Helen Keller International, ArtsConnection, and the American Montessori Society.
Paul is also chair of the Bridgespan NY nonprofit CFO Group, co-chair of the Financial Executives Networking Group not for profit special interest group, and treasurer of Reaching for the Arts. In addition, he blogs for BoardAssist.org and tweets @PaulKonigstein. He holds an MBA in finance from New York University and a BS in marketing from the Wharton School of the University of Pennsylvania.
Ronald Benjamin is a client leader in CLA’s financial outsourcing services practice. Ron has served nonprofit clients for over 30 years. Ron is a member of the New York State Society of Certified Public Accountants, the American Institute of Certified Public Accountants, and the National Association of Black Accountants. At the NYS Society of CPAs, Ron served on several committees and chaired the Accounting for Nonprofit Organizations Committee and the Exempt Organizations Committee. He was an officer of the NYS Society CPAs and served on its Board of Directors, as well as on the Nonprofit Organizations Committee of the American Institute of CPAs. Ron also served on the boards of directors of several charitable organizations, including Upper Manhattan Empowerment Zone Development Corporations, Jazzmobile, and Highbridge Advisory Council and Family Services.
Ron is a retired partner at Mitchell & Titus, LLP, a professional services firm offering a full range of Assurance, Advisory, and Tax services to clients ranging from middle-market firms to those ranked in the Fortune 1000. Ron was admitted to the partnership in 1984, and served as the partner-in-charge of the Nonprofit Organizations practice of Mitchell & Titus. In that position, he was responsible for setting the firm’s policies and procedures in connection with accounting and audit issues of nonprofit Organizations. His nonprofit experience extends to civic, cultural, and health and welfare Organizations. A number of his clients were subject to the provisions of the Single Audit Act.
Ron is a graduate of Pace University with a Baccalaureate Degree in Business Administration – Public Accountancy. Ron also holds a Master’s Degree in Business Administration from Baruch College, City University of New York.