A nonprofit's mission can only be accomplished if the organization has the resources it needs and manages its money responsibly. The Sisters of Providence had a succinct way of putting this: "No margin, no mission."
Evaluate your organization's sustainability by reviewing these questions:
- Is your funding stable and coming from diverse sources?
- Are you taking good care of your relationships with donors and potential donors?
- Is money used wisely and carefully tracked and accounted for?
- Are there control systems in place that minimize the risk of fraud and the impact of an unexpected crisis?
- Does the organization have a creative or entrepreneurial way of approaching the issues it is trying to address?
- Has the organization developed partnerships or earned income activities with businesses and/or other nonprofits?
- Does the leadership and board understand and regularly re-evaluate the organization's business model (e.g. how it gets and uses resources to create value)?
Good fundraising starts with good financial management. The board and executive staff need robust financial information in order to make the best day-to-day decisions and the case for more resources. Be sure your financial staff understands the specific requirements of nonprofit financial management. Plus, those responsible for fundraising should have access to professional development opportunities through groups like Northwest Development Officers Association, Puget Sound Grantwriters Association, and Association of Fundraising Professionals-WA Chapter.
501 Commons provides financial management consulting services as well as ongoing financial management and bookkeeping. Our Resource Directory also has a several firms with an expertise in nonprofit finance and audits.
Financial Management Consulting, Partner Services & Fundraising Program
We can help you to fundraise effectively and help you manage your money well!
- Ensuring internal controls
- Setting up or modifying accounting systems
- Training for boards and EDs
Contracted Financial Services
- Earned income strategies
- Business plan, including case for funding
Catalyst to Sustainability
Consultants & Resources
Find service providers and helpful resources in related areas like:
- Development planning
- Event planning & management
- Grant writing
- Accounting & financial controls
- Audits, payroll, & taxes
Stumped, Lost, or Confused?
Contact Matt, 501 Commons' Information & Referral Program Manager, to troubleshoot.
You can also connect with one of our consulting services managers or Tech Support staff to assess your needs.