What you'll learn:
- Create and define a nonprofit’s vision and mission statements
- Understand different types of budgets and their pros and cons
- Be able to create different types of budgets
- Address organizational needs for a cash reserve
- Establish internal controls to combat misuse
- Be able to identify the different types of costs and their impact to a nonprofit budget
- Recognize the most commonly used financial statements
- Identify alternative revenues sources
- Understand the meaning and use of liquidity ratios
- Understand the meaning and use of solvency ratios
- Understand the meaning and use of efficiency ratios
- Understand the meaning and use of profitability ratios
- Understand the meaning and use of diversification ratios
- Analyze nonprofit financial statements
- Learn nonprofit funding models that can diversify nonprofit incom
- Build a stable income stream for a nonprofit
- Identify the signs that can leave nonprofit assets vulnerable to internal or external misuse
- Provide staff and volunteers with a strategically developed mission and vision
- Understand tax filing basics
- Develop a long-term perspective on nonprofit finances
This course is the product of years of working both in the nonprofit
and for-profit sectors. Doing so has equipped me with a good insight
of their differences and similarities. A key difference in managing
finances in the private sector versus the nonprofit sector is the
altruistic mission of a nonprofit. Many believe that the private
sector is purposed solely to attain a financial reward or profit
while the nonprofit objective is simply to “do good”. Although
some may question the accuracy of this statement none can deny that
both the nonprofit and the for-profit sectors require financial
resources in order to function. In reality, a nonprofit, not unlike
a for-profit organization, need to have a financial grasp. In fact,
doing so is integral to the sustainability and the continuation of
the nonprofit to provide a much needed public service.
This course seeks to equip nonprofit leaders, employees, volunteers,
funders, and anyone else with an interest in a nonprofit, with the
strategies and techniques that can minimize the obfuscation that can
arise in managing nonprofit finances. This course identifies best
practices in order for nonprofits to not only survive but strive in
an environment that has proven challenging for a great many
nonprofits—small to large.
The primary focus is on providing strategies and tips on analyzing
the finances of a nonprofit. This course discusses budgets, cash,
costs, financial statements, establishing internal controls, various
financial ratios used to evaluate nonprofit finances, and real world
practices on how to use them. Whether as a new nonprofit or one that
has been around for decades this course concisely provide a high
level view of the complexities of finance in an easy to understand
layout.
It is the hope and desire of the authors, staff, and board of Bolder
Business Consultants that this material proves beneficial for those
currently working at a nonprofit, funding a nonprofit, as well as for
those who aspire to fund or work at a nonprofit.
