Nonprofits attract bright, dedicated, and capable staff and volunteers. And many have the “Midas touch” for recruiting dynamic, well-respected, and effective board members. Despite all that resident talent, every organization needs outside help sometimes. What experts do you need and how do you find them?
© North Carolina Center for Nonprofit Organizations, Inc. From Common Ground, a publication of the N.C. Center for Nonprofits, www.ncnonprofits.org.
This skills and experience inventory from Youth Empowerment Solutions can be adapted to fit your nonprofit’s needs in assessing the skills of your staff, designating duties and responsibilities, and planning professional development training. The following resource may also be of assistance in designing
Like families, organizations need financial nest eggs for different purposes. One of the main purposes is an operating reserve — sometimes called an operating contingency fund. They are a first line of defense against financial uncertainties ranging from uneven cash flow to cutbacks from major funders.
© North Carolina Center for Nonprofit Organizations, Inc. From Common Ground, a publication of the North Carolina Center for Nonprofits, www.ncnonprofits.org.
Appropriate document retention is important for a nonprofit's compliance with state and federal law, while balancing the need for managing storage space (both physical and digital). A clear policy for staff can prevent the innocent destruction or disposal of documents.
How to find fiscal sponsors
General Operating Support Action Guide - A report inspired by a spirited discussion on GEOList among GEO members about general operating support, its limitations and its advantages. (Grantmakers for Effective Organizations)
How Much Profit Does a Nonprofit Need? identifies the key variables and explains how any organization can calculate the minimum profit it needs to prevent slow, steady erosion of the quality of its output. (Nonprofit Quarterly)
How To Develop Your Nonprofit Operating Reserve examines common factors that organizations should take into account when considering how much to set aside for their operating reserve. (npENGAGE)
Kate Barr, executive director of Propel Nonprofits, lays out how to understand the roles of the treasurer and finance committee, along with how to recruit for these positions.
Developing and adopting a written financial policy is a valuable practice for any nonprofit organization, no matter how small or large. Financial policies clarify the roles, authority, and responsibilities for essential financial management activities and decisions. In the absence of an adopted policy, staff and board members are likely to operate under a set of assumptions that may or may not be accurate or productive. If the idea of creating a financial policy seems daunting, these guidelines for policy development and this downloadable basic example may be helpful.