Cash reserves are key for nonprofit survival. They are essential for assessing and ensuring the long-term sustainability of a nonprofit. The Board is responsible for agreeing a reserve amount and including it in the financial policies. Tracking where the organization is in relation to the funds can literally mean the difference between catching financial crisis […]
Nonprofits seeking ways to overcome the financial impact of Covid-19 need to look beyond belt-tightening and begging for money to the money they already have. So says Sean Hale, Austin-based finance and operations consultant for nonprofits. In his 3-part series, Sean will share with us three habits that nonprofits can use to address financial challenges now.
Fundamental to the sustainability and mission achievement of any nonprofit is the availability of funding and resources. The challenges are finding the balance between short term funding and development of long term relationships, as well as the need to differentiate your organization’s value proposition.