Representatives of 25 nonprofit organizations attended a Dec. 3 finance workshop hosted by New Resource Bank and Nonprofit Finance Fund—and board members, executive directors and CFOs alike came away with valuable insights into how to ensure that their organizations remain sustainable while they pursue their missions.
The 3-hour morning workshop, aimed at helping nonprofits better understand their financial reports, leveraged the expertise of Nicole Simoneaux and Alexandra Chan from Nonprofit Finance Fund, which provides financial advice and education, as well as loans and capital, to nonprofit organizations across the country.
The two discussed limitations—both structural and behavioral—to nonprofit financial health and provided tools and ratios for assessing a nonprofit’s financial condition. For example, Simoneaux showed how nonprofit financial statements are required to be presented in ways that are often confusing and misleading when compared with companies’ financial statements.
The audience was very engaged in the workshop, and should now be able to better explain their financials to lenders and donors.
We look forward to hosting future educational events for nonprofits as well as other market segments. If you would like to suggest a workshop, please contact Marsela Pecanac