Finance

Financial Management

Nonprofit leaders must develop, at a minimum, a basic skill set in financial management. Financial analysis shows the "reality" of the situation of a business and is therefore one of the most critical practices in management. This page offers tools, articles and news items related to enhancing your organization's fiscal management capacity.

MindEdge Learning Professional Development

The Center has partnered with MindEdge Learning, a leading provider of online higher education and professional development, to offer their full suite Management and Nonprofit Management certificates and courses. These on-demand, self-paced courses provide an alternative to the Center's existing opportunities and members of the Center can request a discount code for 10% off the normal price. Learn more

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Posted on: October 10, 2018

Topics: Online Tools | Cost savings | Featured

Making Sense of “Sustainability” and Its Uses and Misuses in the Arts

Source: Nonprofit Quarterly

“Like all popular buzzwords, there is value to [sustainability], and I applaud the notion that we have to look at both the long-range prospects and the long-range effects of the things we do. But as often happens, the term has been misused by people who fundamentally misunderstand its meaning.”

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Posted on: August 26, 2015

Topics: Finance | Sustainability

Boston Area Ranks 3rd in Charity Navigator's 2015 Metro Market Study

Source: Charity Navigator

Nonprofits in the Boston metro area had the 3rd highest overall score, behind Houston and San Diego, in Charity Navigator's study of financial, accountability, and transparency practices and statistics.

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Posted on: June 9, 2015

Topics: Accountability (Ethics) | Data & Research | Finance | Organizational Assessment

Preventing Fraud: From Fiduciary Duty to Practical Strategies

This article, which appeared in the New Hampshire Bar Journal, will help both nonprofit and for-profit organizations identify the possibilities for fraud and embezzlement in their organizations and understand the steps they need to take to prevent these behaviors. The article emphasizes the need for boards of directors to take the lead in engaging their officers and employees in crafting policies and procedures to minimize the possibility for fraud and embezzlement. Read the article

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Posted on: April 10, 2014

Topics: Board | Finance

How Much Profit Does a Nonprofit Need?

Source: Nonprofit Quarterly

Nonprofits need profit. Because every nonprofit is unique, the amount depends upon individual circumstances. This article will identify the key variables and explain how any organization can calculate the minimum profit it needs to prevent slow, steady erosion of the quality of its output. The calculation is so simple it can be done without pencil and paper, but it has far-reaching implications.

Full Article

Posted on: December 18, 2013

Topics: Finance | Organizational Assessment | Planning

Finding Your Funding Model: A Practical Approach to Nonprofit Sustainability

Source: Bridgespan

Developing a funding strategy that leads to financial sustainability is central to any nonprofit's ability to increase its impact. Yet understanding exactly how remains far from clear. The Bridgespan Group has developed an approach to help organizations identify and develop funding models that can best position them to achieve programmatic aspirations. Finding Your Funding Model is a downloadable tool that provides practical guidance for the steps required, and the decisions and tradeoffs to be made, that will confront nonprofit leaders along the way. Read the article from Bridgespan.

Posted on: May 2, 2013

Topics: Fundraising | Finance | Sustainability

Organizing the Board to Support the Revenue Strategy

Source: Blue Avocado

Instead of focusing only on how board members can raise individual donations (or not!), think more broadly (and effectively) about how board members can support the key aspects of your organization's business / revenue strategy. Read the article from Blue Avocado.

Posted on: May 1, 2013

Topics: Board | Finance | Fundraising

Consultant Resource Bank

The Consultant Resource Bank lists consultants who have experience working with nonprofit organizations. In order to be listed in the Consultant Resource Bank, a consultant must submit two references from nonprofit organizations they have worked with successfully. Learn More

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Posted on: March 1, 2013

Topics: Online Tools | Services

Financial Considerations in Starting a Nonprofit

Did you ever wish you could get a few minutes with a local expert to ask a few questions? In this video, Kirk Leoni, CPA, and nonprofit board member, discusses important financial considerations when starting a nonprofit.
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Posted on: February 28, 2013

Topics: Starting a Nonprofit | Finance

Financial Literacy for Nonprofit Boards

Financial literacy is about more than being able to read financial reports without breaking a sweat and adopt budgets that will serve nonprofits well. This article from the National Council of Nonprofits posits that being aware of sector wide trends is also a skill that boards need. Read More...

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Posted on: February 28, 2013

Topics: Finance

Financial Independence: Six Approaches

The Nonprofit Quarterly
We all want financial independence, but actually getting there is easier said than done. This article proposes that knowing your options is a solid first step.
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Posted on: February 28, 2013

Topics: Finance | Sustainability