At Nonprofit Finance Pros, we believe that strong, financially healthy, mission-driven not-for-profits have the power to make a significant positive impact in the communities they serve. But in today’s economy, more organizations are facing difficult financial transitions than ever before. Funding streams are increasingly unreliable even as the demand for services continues to rise.
Consider these sobering statistics from the Nonprofit Finance Fund® 2012 State of the Nonprofit Sector survey of 4,607 organizations:
- 27% tapped into reserves
- 31% ended 2011 with a deficit (25% were at break-even and only 44% had a surplus)
- 57% had 3 months or less cash on hand
- 20% reduced or cut programs or services
Without money there is no mission, and making the right financial decisions for your organization is crucial. The wrong decisions can significantly reduce your organization’s impact and leave the individuals you serve scrambling elsewhere for assistance, or even worse, leave them with no support at all.
Thriving organizations are asking and answering tough data-driven questions about their future financial health, questions like:
- Is our current business model financially sustainable?
- Do our financial reports provide accurate and meaningful data to support our decision making?
- Are we strategically utilizing our reserves or squandering them?
- How secure is our funding, and what contingency plans do we have in place?
- Is now a good time to consider a merger or collaboration?
For more than 17 years, the team at Nonprofit Finance Pros has been helping CEOs, leadership teams and boards of nonprofit organizations answer these kinds of questions to successfully navigate financial crises and transitions and make the tough decisions that ensure long-term viability.
To find out more about how we can help your organization, click here to schedule a confidential free strategy session today.
Our customized, collaborative consulting services include, but are not limited to:
- Facilitation of financial sustainability conversations for staff and board leadership
- Evaluation of financial reporting processes and formats
- Financial projections & modeling
- Financial turnaround assistance
- Merger exploration facilitation
- Merger implementation assistance
- Exploration of outsourcing options
- Financial management training and coaching for CEOs and staff leaders