Nonprofit organizations often struggle to manage their finances effectively. Even successful organizations can face challenges that stymie their ability to achieve their mission. When confronting a shortfall, for instance, leaders must exert themselves to manage the crisis.
Better financial management is key to the long-term financial health of a nonprofit.
And its financial health depends on strong leadership from the board and staff along with their financial partner.
Budgeting can be one of a nonprofit’s most important tools for achieving results. Developing accurate and realistic budgets requires delving into the true cost of all programs. The costs of managing grants, for example, can eat enormous chunks of time.
Contingency planning is another essential tool for long-term financial health. Many nonprofits lack the cash reserves necessary as a safety net for periods of low revenues. Through strategic financial management, nonprofits can build a buffer against uncertainty by setting up a reserve fund.
As a partner to nonprofits, Old York Advisors is ready to add our expertise to guide nonprofits on developing realistic income and expense projections – a tool to help predict and plan for cash shortfalls.
Our mission is to build healthier nonprofits.
Our advisors provide independent research and investment solutions to support an organization’s needs while managing risk. A nonprofit gains investment guidance and prudent portfolio management to help to fulfill its mission.
Discover more about how your nonprofit organization can gain investment guidance and prudent portfolio management to help to fulfill your mission. We invite you to contact us HERE
Our team has experience supporting values-driven business models for nonprofits, endowments and foundations.