Melanie Kirton of Financial Affairs returns for episode 2 with the SnapCast, this time to talk about nonprofit budgeting. You might think you already know the ins-and outs of budgeting, and you might be wrong. We discuss: The importance of doing an annual budget
Your budget document is not a stagnant document, it should be referenced often and reviewed monthly against financial statements
Be realistic about goals, revenue, expenses, staffing
Use...
Melanie Kirton of Financial Affairs visits the SnapCast to talk about nonprofit financial issues. This episode, we talk about the Form 990, bust some myths and misconceptions, and discuss some of the most damaging mistakes an organization can make with their 990, including: Missing the deadline
Wrong name or FEIN
Filing an incomplete return
Improper functional allocation
Other mistakes: outdated mission statement, outdated board list, wrong...
Bob Hays, Business Consultant with Schooley Mitchell. Schooley Mitchell examines your business services including Telecom, Waste and Merchant Services. They prepare a professional audit report from which they advise how you can optimize your spending - and significantly reduce costs. Their fees only come as a portion of any savings they’re able to find. If there are no savings then there is no fee.
Bob is also an organizer of the Nonprofit...
A bonus episode on ethical, values-based investing for nonprofits. Mickey talks with Sean Hale of Sean Hale Consulting to briefly discuss the issue of investment philosophies. An investment philosophy is comprised of the organization’s high-level investment beliefs. These principles are a reflection of the organization’s culture and should transcend committee and staff members. A well-structured investment program features an investment...
Mickey talks with Sean Hale of Sean Hale Consulting to dissect the issue of inflation, and talk about things nonprofits can do to protect the buying power of their reserved funds. This conversation stems from Sean's recent blog post:
https://www.seanhale.org/blog/dont-let-inflation-wipe-out-your-cash-surplus
Does your nonprofit have more money in the bank than you need to cover day-to-day operations?
If so, rising prices across the economy,...
Mickey visits with Amy Karson, CEO of Brand K Partners, their work with nonprofits, and how nonprofits may better manage their finances during ongoing pandemic. Among the topics we cover: How keeping clean books spells success vs failure for nonprofits.
Numbers inform strategy.
Good data helps planning, and provides a road-map.
Nonprofits should not expect their bookkeepers to be their CFO. We welcome support of the Nonprofit SnapCast via...
SPECIAL EPISODE: Nonprofit SnapCast welcomes Sarah Olivieri back to the table to talk about the SBA loans that are available to nonprofits, and how nonprofits might or might not choose to take advantage of what's available to them at the moment. Among the topics we cover: Where to find information on EIDL and PPP loan availability and how to apply.
You’re approved, now what?
Interest rates are currently less than inflation.
Where to spend the...
