New Models for Small Nonprofit Financial Management. Presented by NFP Partners. Introductions. Why are we here ? Define “small” NPO Define “financial management” Introductions NFP, Lee and Laura Find out composition of audience between executive directors, finance managers, and other
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The serenity prayer – modified:
“God grant me the serenity to admit there are business tasks I don’t do well, the courage to do the ones I excel at, and the wisdom to know the difference.”
Small nonprofit organizations under $2m annual operating budget require professional-level financial expertise but acquiring that in-house and competently supervising the function is unrealistic.
Some of the more traditional delivery models:
In discussion groups consider the personnel-related costs of the finance function in your organization and come up with a percentage range of costs compared to the total operating budget.
*Hint: Administrative costs to the total operating budget are usually around 10%, and finance is part of administration.
The main question should not be that it is significantly cheaper but that it delivers superior results and peace of mind so the Executive Director can pursue his or her passion unencumbered by the distraction of a dysfunctional finance function.