Financial planning and tracking helps organizations quantify their annual strategy and plan activities in a way that ensures feasibility and cost-effectiveness
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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
Financial reporting is the practice of summarizing the financial performance of an organization in standardized documents.
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.