Financial Management from a Leader's Perspective

Are you a nonprofit leader that wants to better understand the financial management of your organization? Join us to learn key skills and competencies, such as reading financial statements, and important financial systems to have in place. 

Learning Objectives

• Understand the role of board and staff in financial policy and procedure development and fiscal management.
• Identify fundamental financial policies, principles and systems for nonprofit organizations.
• Understand the areas of greatest financial liability and how good financial policies and fiscal management can reduce risk.
• Learn how to read and get the most out of your financial statements.
• Know what key things to look for when reviewing your 990.

Description

As a nonprofit director, senior manager or board member, it is important to understand the financial policies, procedures, systems and regulations that are essential to sound financial management. This workshop will look at financial management from the perspective of a nonprofit leader. Participants will learn about essential financial policies, how to read and assess financial statements, and about important financial systems to have in place to assure compliance and reduce liability.

Level

Intermediate

Audience

Senior managers, Executive Directors, Board of Directors

Presenter

With a passion for health, justice and equality, Susan Wilger has worked for nonprofit organizations for over 25 years. Her areas of expertise include program development, systems analysis, grant writing, administrative systems and policies, advocacy, prevention, and community coalitions. She has served as a consultant with the Centers for Disease Control and Prevention, the Substance Abuse and Mental Health Services Administration, the National REACH Coalition, and others. Susan has served on numerous local, state and national nonprofit boards and advisory committees. Ms. Wilger has a bachelor's degree in Education from UW-Madison and a master's degree in Public Affairs from UT-Austin. 

Guiding Practices for Nonprofits

• Boards of Directors should review financial reports, at least every other month.
• Boards of Directors should develop clearly defined, written financial policies and procedures that provide for separation of duties, and protect and safeguard organizational assets.
• Boards of Directors must ensure that funds are spent in compliance with the conditions attached to that funding.
• Boards of Directors should monitor the financial health of the organization, and ensure each member understands the content and significance of the organization’s financial statements and audit.
• Boards of Directors should also receive training on legal responsibilities, including federal and state regulatory filings, policy approval and ongoing review, annual budget and revenue plans, financial management procedures, fiduciary duties, and risk management.
• Boards of Directors should ensure that fiscal records are kept for the legally required period of time and are true and accurate.
• Board of Directors should annually review and sign a conflict of interest policy that is kept in individual Board member files.
• Boards of Directors should review and approve financial audits.

The Guide is available as a free digital download at CNPENM.org/Guide. Hard copies of the Guide and Companion Workbook will be available for purchase at this training for $25 each with a credit card or check.

The Center for Nonprofit Excellence often takes photos during our trainings to share on social media. If you prefer not to be photographed, please let us know in the Special Needs field when you register.