As the head of a nonprofit organization are you comfortable that your financial management is under control? Do you feel confident in your understanding of basic financial principles and practices and how to apply them effectively? Do the financial statements generated by your finance department make sense to you and your Board? Well, if you cannot answer these questions without some doubt or hesitation, you are an excellent candidate for our Financial Management 101 workshop that premiers March 21.
This workshop, the first of its kind to be sponsored by the Colorado Nonprofit Association, puts meaning into Financial Management as presented in the Principles & Practices for Nonprofit Excellence in Colorado initiative. What must the nonprofit CEO, Executive Director and engaged Board member know to effectively carry out their respective financial management roles. The training focuses on the basics including:
- What are the respective roles of the Board of Directors and management in financial management?
- What are the basic requirements for legal compliance and public disclosure?
- What is internal control and how to set it up?
- What are the components of a strong financial infrastructure?
- How are nonprofit financial accounting and reporting different?
- What are some key accounting concepts and best practices that I need to know?
- What are the key financial statements and what do they mean?
- What are key ratios and supplemental performance measures?
- Where can I get more information and guidance on financial matters?
The training will be presented by NFP Partners by Lee Bengston, CPA, and Laura Jorstad, both experienced nonprofit financial professionals. Come prepared to interact with the presenters and your peers by sharing your information and experiences with real-world examples of both good and bad practices. We will see you there.
What do you know that you don’t know about nonprofit financial management? Leave your questions and comments, and we will try our best to narrow the void.