Future-Proofing the Charity Finance Sector — on Hilborn: Charity eNews
This September I wrote an article for Hilborn: Charity eNews, an organization that has been keeping nonprofit leaders updated on news, trends, tips and analysis of developments in the fields of fundraising and nonprofit management since 1991. My article focusses on tips to build capacity by increase your organization’s financial competency. Set yourself up for success now — and post-pandemic — by reading a snippet here, or the full article at the button below.
Future-Proofing the Charity Finance Sector: From surviving to thriving in a post-pandemic world
Over the course of the COVID-19 pandemic, many charitable organizations and non-profits have experienced considerable challenges. From changes in policy and infrastructure to uncertainty in the economy, they’ve dealt with blow after blow to their operations.
Unfortunately for some, one too many hits has left them down for the count. A full quarter of charity leaders surveyed by Imagine Canada say their organizations will not be able to operate for more than one year. So, what does this mean for non-profits looking to come out fighting? Financial competency is key.
In this article, we’ll share tips to build capacity by increasing your organization’s financial competency and setting yourself up for success. You’ll learn the importance of bridging your finance and fundraising teams to:
● Determine the full cost of your work and set realistic benchmarks for spending with a range — a minimum as well as a maximum investment.
● Understand the financial requirements of new forms of gift-giving, including legacy gifts and crypto-currencies.
● Show investments in strong infrastructure and inspiration.