Before You Hire a CFO: What Every Nonprofit Leader Needs to Know

Passion builds nonprofits. Strategy makes them successful. You need to know how to best use your resources and not squander your hard-won dollars. That’s where your CFO comes in. The CFO is like the co-pilot of your flight: You’ve got the dream destination and the plane to get there, but your co-pilot knows how much fuel you need to make the trip, where you’ll encounter turbulence, and when it’s time to change course. A high-performing finance function is essential to the success of every nonprofit. A bad hire can leave…

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When the Money Finally Arrives: Why Multiyear Funding Raises the Bar, Not Lowers It

For most Executive Directors, their problem isn’t mission focus; it may not even be funding. It’s timing. Unrestricted annual funds mean that each Jan. 1 feels like starting over. Windfall years can lead to a cash reserve, but that reserve is accidental and reactive, not strategic. Multiyear funding promises to change that; however, accessing it and making it work demands more than most organizations expect. Key Takeaways: Multiyear funding is not the…

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What to Consider Beyond Credentials: The Case for Nonprofit Accounting Specialists 

Many nonprofit leaders start their search for accounting services with a simple assumption: If someone has CPA credentials, then they must be qualified to handle nonprofit accounting. While CPAs are highly trained, this assumption misses a crucial point: Sector expertise matters as much as credentials. Nonprofit accounting isn’t just business accounting with a different tax status. It operates under its own rules and its own unique language. Donor restrictions, grant requirements,…

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