Resource starved nonprofits need help. Perhaps you are still using Windows XP, the carpet is fraying in your office, and the Executive Director has to run finance, human resources, and information technology for lack of staff. You can find the money you need to solve these problems by using the money you already have more wisely.
By using your money more wisely, you can do more for your existing constituents or serve new ones. Even if you are using the latest version of Windows, have brand new carpet, and can afford a Chief Financial Officer, Human Resources Director, and Chief Information Officer, it's important to know how to direct more money to mission.
Getting more bang for your buck boils down to following financial best practices, including: budgeting, reporting, and internal controls. If you don't create a budget and report on your progress toward achieving it, you are probably spending more money than necessary on the things you need. If you don't have effective internal controls, you are probably spending money on things you don't need and which may not even be legitimate business expenses.
If you're wondering how your nonprofit could adopt these best practices, you should join me for my webinar on October 19. You won 't need any finance or accounting training to understand, because I will introduce the basics of internal controls, budget creation and monitoring, and financial reporting using simple English. If you are a Board member or Executive Director tasked with overseeing financial activities, you will gain the necessary knowledge to insure that your finance team provides effective stewardship of your nonprofit's resources. If you are a nonprofit Executive Director, program professional, or fundraiser who has to perform financial functions because there is simply not enough money for adequate finance staff, you will learn what needs to be done and when.
Specifically, you will learn 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 engage with to boost financial performance
- Tailor best practices to your organization, regardless of size or sector.
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.
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