WHERE SHOULD I FOCUS RIGHT NOW AS A NONPROFIT LEADER?
With the world spinning, it's without a doubt that as a nonprofit leader or board member, a number of ideas for next steps have been swirling around your mind. The question is, where to start?
According to the AICPA, nonprofits should be considering the following during this COVID season, as noted from an excerpt from one of their recent reports:
- Cash management is critical. Build your operating reserves, prepare cash forecasts and review them frequently, tighten your billing and collection processes, and employ cost containment strategies. Use scenario analysis and more robust budgeting and nancial planning techniques.
- Keep your board and nance committee informed with more frequent meetings and reports.
- Assess the challenges your organization faces with respect to remote working. Develop or create policies and invest in technology as needed.
- Take the opportunity to find silver linings. Have you, out of necessity during the pandemic, cross-trained employees, streamlined processes, or employed technology in new ways that can become permanent?
Midwest Studies Group helps nonprofits with networking and fundraising opportunities that are impactful, objective, and affordable.