Financial Management – Critical Elements for Success

Financial Management – Critical Elements for Success

Financial management consists of critical elements for success. They include: Planning: take the time to plan out your early budget and strategic plan. These tools will be your guide for how to run an effective business or nonprofit. Without this necessary step, most...

Nonprofit Financial Policies

The Board of Directors have a fiduciary responsibility to the agency and its donors. All assets need to support the mission of the agency and ensure the donor’s intent. All boards should adopt this structure for ideal financial management. Policies will help to...

Budgeting

Budgeting: Budgets estimate both your revenue and expenses for the year. It is a quick snap of your financial goals and shows how you plan to allocate your resources. It is a powerful tool because most of your financial statements are compared to your budget (which...