November 2014: How to Get Your Board “Onboard” with Non-Profit Finances

November 2014 Meeting: How to Get Your Board “Onboard” with Non-Profit Finances

Typically most nonprofit board members do not have a background in finance and those who do usually come from the for-profit world. This puts nonprofit CFOs in the position of having to explain nonprofit financial statements in terms of revenue/asset restrictions and give context to financial analysis for our sector. Issues often arise with board members having a different understanding of budgeting, cash flows, and revenue timing. Stephanie O’Leary, Senior Consultant at Accounting Management Solutions Inc., gave a presentation about how to get your Board “onboard” with nonprofit financial statements. Her presentation focused on: How we, as CFOs, can train our board members on how nonprofit financial statements work; highlighting some best practices to help board members know how to provide proper financial oversight; and providing necessary tools for board members on how to measure organizational success.

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Financial Storytelling: Captivating Stakeholders with Financial Results-June 2014

Financial Storytelling:  Captivating Stakeholders with Financial Results

Although spreadsheets are a CFO’s best friend, the stakeholders of a nonprofit need more than columns of numbers to understand a nonprofit’s financial story. Edward Mulherin, Founder and CEO of e-Cratchit, gave a presentation about innovative approaches to financial storytelling that will keep the attention and interest of your board, institutional funders and other stakeholder audiences. Edward is a CPA and a lawyer with over 30 years of experience in finance and accounting, first as an auditor and then, for the past 15 years, as CEO of e-Cratchit, which provides outsourced CFO and accounting, mainly web-based services, across the country to approximately 60 nonprofit companies. Read More