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Give Your Board Confidence in Your Effective Financial Management
Although your nonprofit’s Board of Directors is not responsible for the day-to-day operations of the finance department, they are responsible for overseeing the overall financial health of the organization. The Board should have confidence that…
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Strengthen Your Nonprofit’s Internal Controls
It is now more important than ever for your organization to have strong internal controls. Reviewing and updating your internal controls is essential to ensure they are working effectively. What Are Internal Controls and Why…
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My Presentation to the Board Following an Operational Review
I recently completed a review of the finance department operations of a nonprofit organization. The Executive Director wanted an evaluation of the operations of the finance department and to identify key areas for improvement. At…
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Does Your Nonprofit Have A Conflict Of Interest Policy?
A Conflict of Interest Policy that is effectively communicated and enforced ensures that decisions about the operations of a nonprofit organization and the use of its assets are made solely in terms of benefit to…
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Finance and Technology: Implementing Automated Systems
Preparing for the implementation of automated systems is critical to ensure a successful outcome. Many nonprofit organizations are contemplating the implementation of automated systems to replace manual processes. These manual processes are time-consuming and are…
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Do Your Nonprofit’s Operations Protect Its Cash Effectively?
With sources of revenue declining and costs increasing, it is important for nonprofits to have effective financial procedures in place to safeguard the organization’s cash. Documenting and assessing your finance operations formally can identify issues…
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Be Proactive Not Reactive: Preparing for Staffing Disruptions
Nonprofit organizations are facing high staff turnover, staffing shortages and difficulty attracting and retaining qualified employees for their finance departments. The period in which a position is vacant or a new hire is learning their…
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Breaking The Silos In Nonprofits To Achieve Effective Financial Management
Collaboration between the finance department and non-finance staff in nonprofit organizations is essential to achieve effective financial management. By breaking down the silos preventing this collaboration, the finance department can fulfill its responsibilities and enable…
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Finance And The Board Of Directors
The Board of Directors of a nonprofit organization has a fiduciary responsibility to oversee the financial health of the organization. Although they are not responsible for managing the daily operations of a nonprofit organization’s finance…
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The Importance Of Assessing Your Nonprofit’s Finance Operations
Has your nonprofit’s finance department ever undergone an independent assessment of its operations? An independent assessment brings a fresh set of eyes that reviews your finance department operations critically and provides recommendations for improvements. An…