In this workshop, we will explore the unique role of the nonprofit board in supporting an organization’s financial resilience, as well as the importance of the ED/Board partnership.
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Financial Management
Financial Management refers to the process by which a business or organization tracks and manages its cash, credit, expenses, and revenue streams to ensure profitability and its ability to meet organizational objectives. In a nonprofit context specifically, we can think of financial management as being the backbone enabling the organization to carry out and fulfill its programmatic mission. Sound financial management is absolutely critical for an organization’s long-term success and sustainability!
In this section, you’ll find content related to cash flow and cash management; budgeting, planning, and tracking of finances; financial reporting; and financial infrastructure.
All Financial Management Resources
Double Bottom Line (DBL) financial analysis helps us understand how financially self-sustaining each part of our ESE is. Download this resource to create and analyze your own DBL income statement.
Distinguishing social costs from ordinary business costs enables you to make more informed decisions on managing your budget and making targeted cost reductions.
It has become increasingly important that we be able to understand not simply that a program is a “good cause,” but rather that its social returns argue for increasing our investments in their work.
Financial infrastructure and internal controls are the accounting systems and processes that enable the management and security of an organization’s cash, inventory, payments, invoicing, and other money-related business processes.
This is a helpful resource for those seeking to better understand the terminology and concepts related to Employment Social Enterprises (ESEs) and the broader field of social entrepreneurship.
Financial reporting is the practice of summarizing the financial performance of an organization in standardized documents.
Financial planning and tracking helps organizations quantify their annual strategy and plan activities in a way that ensures feasibility and cost-effectiveness
Fixed and variable costs refer to the categorization of business expenses depending on whether they are affected by changes in product/service quantity sold, or whether they remain constant regardless of quantity sold.
Cash management is the process of collecting, handling, and using cash. Additionally, it involves assessing liquidity, cash flow and investments.