article thumbnail

Nonprofit Finance Practices

VCFO

Restoring and Ensuring Effective Nonprofit Finance Practices Decades ago, healthcare trailblazer Sister Irene Kraus moved her mantra of “No Margin. And when shortcomings and lapses in those crucial cornerstones persist in a nonprofit, so too do risks to the organization and those they serve. No Mission.” into the limelight.

article thumbnail

From Necessary Evil to Mission Fuel: The Strategic Role of Nonprofit Financial Statements

The Charity CFO

Nonprofit financial statements. In this post, we’ll walk through the most important financial statements, and explain the strategic benefit you can gain by pulling the maximum value from the data. The categorization of uses may vary depending on the specific context and goals of your nonprofit organization.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Budgets for Nonprofits: Get ready for 2023

The Charity CFO

Financial planning and budgeting are vital for the success and sustainability of any nonprofit organization. . By taking the time to assess your current financial situation and map out your anticipated income and expenses for the year ahead, you can make sure that your nonprofit is on track to meet its goals.

article thumbnail

Beyond Donations: Growing Your Mission with Earned Income

The Charity CFO

Are you a nonprofit leader struggling with how prioritize revenue to avoid the trap of money becoming the mission? Bill is the founder of FiveTwo Network and focuses on helping entrepreneurs grow their mission and build better programs by prioritizing revenue generation. For more nonprofit accounting resources check out [link].

article thumbnail

Succession Planning Creates Transition Success

CFO Simplified

Succession planning is not only about determining your organization’s next leader, but also about creating a continuous process that assesses organizational needs and builds a climate for an executive to succeed. An effective succession plan must be linked to the organization’s strategic plan, mission, and vision.