Financial vulnerability isn't something we readily discuss with one another, yet it's one of the most important core competencies in leading your nonprofit organization. In my last post, we discussed the importance of understanding and legitimizing your overhead expenses with donors and funders. Low levels of overhead funding leave nonprofits financially vulnerable, which directly impacts the quality of your programming.
Below are a few of the most important strategies for building your financial stability:
1) Set cash flow goals
2) Acknowledge the factors that may impact cash flow
3) Monitor your cash flow position
Click here to read more in the Finance Fundamentals blog
By Erica McGeachy Crenshaw, President/CEO of Execute Now!, Inc.