Cash reserves are key for nonprofit survival. The number one reason nonprofits fail is the lack of positive cash reserves. It is the Board’s responsibility to ensure that they are in place. We invited nonprofit operations consultant Sean Hale to share with us his thoughts on how best to address this important issue.
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.