We are all faced with the challenge of responding to a crisis and “hyper change.” This two-part series will provide fiscal and financial strategies and guidance for nonprofit leaders and their organizations during this time of uncertainty. When and how should you protect your organization’s assets? How do you best position and deploy financial resources during a hyper change period until “true” recovery begins?
In Part II, we will tackle the difficult challenge of balancing the delivery of your organization’s mission with the protection of your financial health. We will discuss nonprofit financial statement oversight related to the balance sheet and the impact on organizational sustainability and financial health. Using sample reports from a case study, we will explore how to assess balance sheets with an emphasis on identifying weaknesses and protecting strengths.
At the end of this session, you will be able to:
- Understand how balancing mission and financial health during uncertain times is different in the short-term until true recovery begins.
- Recognize and assess strengths and weaknesses in balance sheets that are under stress during disruptive, uncertain times.
A. Michael Gellman, CPA, CGMA, Founding Principal/Shareholder, Fiscal Strategies 4 Nonprofits, LLC, and Sustainability Education 4 Nonprofits
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