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In this episode of A Modern Nonprofit Podcast, host Tosha Anderson sat down with Kathryn Hoffman, CEO of the Minnesota Center for Environmental Advocacy (MCEA), to discuss how to balance a big mission with human-centered leadership. Want more nonprofit leadership tips? Go straight to the full video here!
Members’ Profile: Ronel Jooste In this edition of our CFO Spotlight series, we are featuring Ronel Jooste, a dynamic force in the worlds of finance, wellness, and leadership development. I am currently busy with my John Maxwell Leadership Trainer & Coach certifications and might pursue my Masters degree next year.
The Future of Finance and Sustainability with Elizabeth Burns The evolving demands of sustainability and financial performance are reshaping the role of CFOs in the energy sector. Elizabeth Burns, CFO of Gas du Cameroon (GDC), exemplifies this balance, demonstrating how strategic financialleadership can support environmental responsibility.
In a recent episode of A Modern Nonprofit Podcast, host Tosha Anderson sat down with Mohan Sivaloganathan, CEO of Our Turn and advocate for youth leadership and equity in education, to discuss the concept of harmonious leadership and its potential to transform the nonprofit sector.
Recognizing the need to enhance my managerial capabilities, I pursued a Postgraduate Diploma in Management, which equipped me with essential leadership skills. First and foremost is financial acumen—understanding financialreporting, budgeting, forecasting, and compliance is foundational.
Implementing strong corporate financial governance ensures that financial disclosures are both trustworthy and reliable. This positions an organization as a leader in financial accountability leadership , setting a standard for others in the industry to follow. This transparency builds confidence amongst stakeholders.
Prioritizing these areas isnt just smartits essential to thrive in an increasingly competitive environment. LPs are increasingly prioritizing Multiple of Invested Capital (MOIC) alongside internal rate of return (IRR). years, the longest since 2005 ( McKinsey & Company ). years, the longest since 2005 ( McKinsey & Company ).
Companies must take a structured, strategic approach that aligns leadership, streamlines processes, and maintains stakeholder confidence. A well-defined PMI model typically includes: Pre-Integration Planning: Establishing objectives, leadership alignment, and an integration roadmap before the deal closes.
The Power of Fractional CFOs: Sara Daw on Transforming FinancialLeadership for SMEs and Corporates In a recent CFO Club Podcast , Leana van der Merwe hosted Sara Daw , Group CFO of CFO Centre Ltd, to discuss the increasingly popular concept of fractional CFOs. Leana : That’s a really important point.
Successful firms prioritize the right synergies from Day One. To maximize these benefits, firms involve finance leadership early and ensure post-close reporting structures support transparency, speed, and investor confidence. A well-known example of financial synergy is the merger between Exxon and Mobil in 1999.
Implement a Strict Conflict of Interest Policy Every nonprofit should require board members and key leadership to disclose conflicts of interest annually. Maintain Detailed FinancialReporting Your nonprofits accounting system should allow you to generate detailed reports on every dollar spent. Download it for later.
Holding an MSc, BSc, and FCCA qualification, Julius has made a remarkable impact in the finance sector, earning multiple prestigious awards, including the Chief Finance Officer of the Year Sustainability Award (2023) and the FinancialReporting Award (2023). ” Sir Winston Churchill Share your favourite leadership lesson.
Nearly all — 97% — o f businesses have struggled to demonstrate generative AI’s business value, according to an Informatica report published in February. You can unsubscribe at anytime.
Others prefer to see evidence that your organization is financially stable, highlighting diverse funding sources to avoid the appearance of dependency. For example: A government grant might prioritize detailed evidence of your programs efficiency and sustainability, including administrative costs and compliance plans.
Your nonprofit organization relies on the knowledge and guidance of its leadership team to advance its mission. A strong leadership team makes it easy for your organization to reach its goals by effectively using resources and managing strategy. Creating a leadership succession plan is essential for long-term leadership stability.
Prioritize Cash Flow Management Even a great budget can fall short without strong cash flow management. Engage Department Heads : Involve program managers and department heads in the budgeting process to give them ownership over their areas financial planning. Do You Struggle to Make Sense of Your Financial Statements?
The number one factor predicting success in this area is the willingness and commitment of leadership to prioritize impact measurement. The Power of Leadership A key takeaway threaded throughout the conversation was the critical role of leadership in creating a data-driven culture. Get the free guide!
Common reasons mergers and acquisitions fail include: Inadequate Integration Planning: Without a comprehensive roadmap that aligns with the deal thesis, organizations struggle to prioritize, sequence, and resource integration activities. Let’s say a mid-sized manufacturer acquires a bolt-on supplier to consolidate operations.
Aligning financialreporting systems, tracking and realizing efficiencies, and continuously monitoring financial performance are essential to support patient care and ensure the merged entity's success. Steps for Standardization: Conduct an audit of existing financialreporting and ERP systems in both organizations.
A financialreporting dashboard is a visual representation of financial data and key performance indicators (KPIs) presented in a consolidated and easily digestible format. Decision Making : Financialreporting dashboards enable data-driven decision making by providing stakeholders with timely and accurate information.
By prioritizing HR and working with experienced professionals, nonprofits can protect their organizations, support their employees, and focus on fulfilling their missions. Get our FREE GUIDE to nonprofit financialreports, featuring illustrations, annotations, and insights to help you better understand your organization's finances.
Supportive Work Environment: The organization prioritizes creating a workplace where employees feel valued and supported. As the organizational leader since 2012, he has direct responsibility for the programmatic, financial, and strategic operations of Penn-Mar, including Board development. Book a FREE consultation here.
The Power of Community and Strategic Retreats Prioritizing your wellbeing is a critical component but lets shift gears to focusing on working on the business rather than in the business. Do You Struggle to Make Sense of Your Financial Statements? Getting these on my calendar ahead of time guarantees I actually make it there.
Finance leaders can and should take a leadership role cultivating their company’s ethical competencies and addressing its unique challenges. If formal policies are not in place, first prioritize where to start (i.e., Tackling the Issue of Ethics. Doing so as a CFO requires the following actions: 1. Leverage closing checklists.
That question is at the heart of a recent feature in MoldMaking Technology , where Michigan CFO Associates and Consulting CFO Dennis Weist were recognized for the transformational impact of fractional financialleadership at TK Mold & Engineering. But this story isnt about recognition. Its about results.
Future-forward finance and accounting organizations were quick to embrace robotic process automation (RPA) years ago to manage mundane, repetitive back-office tasks like data entry and routine financialreporting. The post Preparing Your Finance Organization for the New Era of AI first appeared on CFO Leadership.
A CFO will evaluate financial performance, and bring attention to potential issues. They also rely on the CFO’s leadership, providing up to date communication, and accurate financialreporting. For a nonprofit organization to live up to its mission, an effective and active leadership team is a must.
This realistic approach helps organizations make the most of their available resources while still prioritizing donor engagement. Book a FREE consultation here Do You Struggle to Make Sense of Your Financial Statements? If you need help with your accounting and bookkeeping, lets talk. Get the free guide!
Leading a nonprofit organization isn’t just about passion–it’s about effective leadership. Build Strong Leadership Foundations You can’t effectively lead an organization–or a team–if you don’t have clear goals, missions, or plans for it. Additionally, the Board, in conjunction with leadership, develops a strategic plan.
The CSRD is intended to revamp and expand information that was already required to be reported since 2017 under the EU’s existing Non-FinancialReporting Directive (NFRD). The CSRD is part of the EU’s European Green Deal and the Sustainable Finance Agenda.
Poor Documentation: Failing to document financial processes, decisions, and discussions can create confusion and make it challenging to track and audit financial activities. Inadequate Reporting: Providing incomplete or inaccurate financialreports can mislead team members and decision-makers.
The first step after a sudden CFO departure is assessing the company’s immediate financial needs. Prioritize urgent processes such as cash flow management, ongoing projects, and upcoming deadlines for financialreporting. What to Do When a CFO Leaves? How Can a Company Quickly Find a Qualified Interim CFO?
Misaligned goals and priorities: Fundraisers focus on securing funds quickly, while accountants prioritize accurate recording and management. Timing and urgency of information needs: The difference between when a team needs information can cause delays in gathering and reporting accurate financial data. Get the free guide!
Prioritize Face-to-Face Interactions While it might be tempting to dive into paperwork and financialreports, prioritize face-to-face interactions. By prioritizing open and transparent communication, you can alleviate concerns and foster a sense of security. The paperwork can wait for after-hours or weekends.
The Japanese focus on efficiency and precision in financialreporting—where concise, impactful communication is prioritized—resonated deeply with Fransua. The Role of Mentorship in Shaping Finance Leaders Both speakers discussed the indispensable role of mentorship in shaping the careers of finance professionals.
However, if your CFO possesses deep manufacturing experience, then you can better prioritize investments that provide tangible business benefits. Business Strategy Leadership. Organizations can benefit from CFO leadership to become more proactive and less reactive with their business strategy.
The next step was prioritization. We prioritized what could and couldn’t be achieved. The team also evaluated the risk on the accuracy of the financialreporting for these activities and focused on key numbers. We also ensured that people have necessary tools to work from home.
The position of Chief Financial Officer has evolved significantly over the past few decades. No longer confined to the guardianship of financialreporting and compliance, modern CFOs are now pivotal strategists and advisors at the heart of corporate decision-making. Delegation and Empowerment: No CFO can do it all alone.
To achieve this, nonprofit organizations should prioritize transparency, authenticity, and accountability in their fundraising efforts. The most successful events prioritize engagement and relationship-building. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!
This prioritization underscores the value placed on a CFO’s ability to anticipate and prepare for future challenges, steering the company towards long-term success and sustainability. This involves managing risks, ensuring compliance with financialreporting requirements, and mitigating operational and fraud risks.
They are responsible for understanding and upholding the policies, ensuring compliance among all stakeholders, and making decisions that prioritize the organization’s best interests. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!
This creates a culture built on a solid foundation for prioritizing, serving, creating sustainability & growth for both the employees and clients. As a bonus, they also offer leadership development and coaching for their clients. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!
Check in with them regularly to ensure they understand: How the goals apply to the mission What their role is in achieving the goal How they should be measuring progress Stakeholders, from the board and donors to employees, can help prioritize goals and allow leaders to zero in on the ones that are most critical to success moving forward.
In 2018, McKinsey reported that CFOs who didn’t adopt digital innovations like artificial intelligence (AI) were in danger of falling behind their counterparts in IT and marketing. When the COVID-19 pandemic hit two years later, it forced businesses to prioritize digital to stay afloat.
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