Nonprofits Strengthen Financial Analytical Skills

June 6, 2015
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Nonprofit Finance Fund hosts workshop

On June 6, approximately 45 nonprofit executives and board members gathered for an intense workshop on the vitality of financial literacy and management. The primary focus of the session, hosted by Gar Kelley and Rodney Christopher from the Nonprofit Finance Fund (NFF), was on helping nonprofits interpret financial statements, and understand the importance of capital structure and managing through the current economic downturn.

Participants were introduced to the NFF Triangle, which helps nonprofits maintain a healthy balance between Mission and Program, Capacity and Capital. Attendees were given practical methods for understanding balance sheets and income statements and were provided tools to more easily access revenue and costs dynamics, profitability and savings. Participants were able to test out this knowledge in an exercise interpreting their own financial statements.

“The information was great and presented in a useful and friendly manner,” said Tyese Lawyer at Our House. William Matson, executive director at Pathways Community Network, shared a tangible takeaway. “The planning and analysis tools given during the workshop will help Pathways adapt more effectively to changing economic conditions,” he said.

Jinaki Wilson from Tennis in the ‘Hood also found the session beneficial. According to Wilson, “This is important for us as we work to receive outside funding, given that the majority of our funding comes directly from the government.”

NFF has helped The Community Foundation build our knowledge in financial investments as part of our Philanthropic Framework. Last year, NFF conducted a series of workshops with staff concerning smart nonprofit investment approaches. Its expertise greatly contributed to our new focus on providing unrestricted dollars to support and strengthen nonprofits.

A nonprofit’s financial statements can help you as a donor better understand how an organization is making an impact. If you are interested in learning more, contact your philanthropic advisor at 404-688-5525.
Visit our Flickr account to check out photos of the session.

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