In part one of this post, I illustrated your organization's need for overhead support is analogous to our thirst for water.
If you were desperately thirsty for a drink of water, you wouldn't fill a funnel; you would fill a glass.
The same theory applies to your organization. While fundraising is paramount in any nonprofit, filling the glass in your nonprofit involves the equally important task of financial accounting and management.
Nonprofits who disregard the importance of financial management know-how are allowing much-needed funding slip through the funnel and into the glasses of more savvy beneficiaries.
Soundly managing your hard-earned dollars involves three steps.
Click on the link below and visit the Finance Fundamentals blog, free to LANO Members and Friends.
1) Recognize that your fundraising results are only as good as your diligence.
2) Analyze your true overhead costs.
3) Legitimize funding for programs and overhead.
Read about these three steps at Finance Fundamentals
by Erica McGeachy Crenshaw, President/CEO of Execute Now!