As we near the two-year mark of the first COVID-19 lockdowns and stay-at-home orders, some nonprofits still are struggling with financial sustainability. This can mean that your board of directors is taking a greater interest in your organization’s financial performance. Key performance indicators (KPIs) can help focus your board’s attention on important metrics. Identify KPIs…
Tag: leadership
Adding It Up: The Roles and Responsibilities of a Nonprofit Treasurer
When you think about it, it’s a bit inaccurate to refer to your organization as “nonprofit.” In fact, money is rarely far from the minds of your organization’s leaders. At least, it shouldn’t be. Like your for-profit counterparts, you can’t succeed without maintaining sound fiscal health. That’s why the title of “treasurer” is so much…
Building Blocks for Effective Board Membership
The pandemic and ensuing economic downturn have put many nonprofits on shaky ground. In crises such as these, solid board leadership is more essential than ever — critical decisions affecting an organization’s long-term survival must be made. As your board members attempt to stabilize the organization and build for a successful future, they should bear…
CFOs Deliver Financial Know-how — But Does Your Nonprofit Really Need One?
Some executive directors, board members and others in nonprofit leadership roles may look at the financial side of their organization and muse, “We could do so much better.” You may think you can boost financial performance by hiring a chief financial officer to help “run the show.” But there’s a lot to consider before taking…