Topics in the Summer 2013 edition include:
– Fundraising Costs Under Attached: Why charity watchdog groups are taking aim
– Walk the Talk with a Code of Ethics
– Are you Ready to Respond to a PR Crisis?
– Why Nonprofits Need Audits- even when they aren’t required
A new report, released on July 16, 2013 and funded by The Wallace Foundation, shares lessons from national experts on how to best expand access to high-quality after-school programs, and emphasizes the important role of cities in providing these programs, particularly in high-poverty neighborhoods.
FMA’s Founder & Managing Director, Hilda H. Polanco, discusses Building Provider Financial Know-How and shares four critial steps to help organizations strengthen their finances. Please see page 18 of the report below
Even if your nonprofit isn’t in financial trouble, your board and management should be alert to opportunities that will improve efficiency and sustainability. It’s best to do this before your nonprofit reaches crisis mode.
For-profit companies have long recognized the value of collaborations. More nonprofits are now looking for the same benefits.
The Nonprofit Observer features trending articles and information that can help strengthen your nonprofit.
Topics in the Winter 2013 edition include:
Stories From the Field, published by The Wallace Foundation, describes their effort to provide financial trainings to executives of high-performing organizations.
FMA’s work in Chicago with After School Programs is recognized.
FMA recently partnered with The Wallace Foundation to conduct a study of the administrative management capacity of organizations providing out-of-school time (OST) services. Based on a sample of 16 high-performing programs in New York City and Chicago, the report concludes that many OST providers need additional investment in administrative management capacity in order to most effectively support, develop and expand their programs. While the study focuses specifically on organizations providing OST programs and services, the report’s lessons and observations should be relevant and useful to the broader nonprofit sector as well.
The following article featured in The Chronicle of Philanthropy discusses how FMA and The Wallace Foundation are strengthening and improving the quality of afterschool groups in the Chicago area.
In a related article, read how Big Brothers Big Sisters of Metropolitan Chicago, a participant in The Wallace Foundation’s nonprofit financial management program and client of FMA, has utilized greater transparency about their financials.
Managing Director, Hilda H. Polanco, was recently featured in the New York Nonprofit Press article discussing, The Key to Long Term Financial Health Liquid Unrestricted Net Assets (LUNA).
“Everyone knows that these have been difficult times for nonprofits. Our own research at Fiscal Management Associates (FMA) and countless other surveys by intermediaries and industry associations find that nonprofits have been struggling with cutbacks in government funding, reduced corporate and foundation grantmaking, and weakened individual giving.
These fiscal pressures have led, in many cases, to annual operating deficits and emergency use of endowment funds or other financial reserves – if nonprofits had any to begin with. While there is widespread agreement about the general problem, many individual nonprofits still need strategies and solutions for conducting a realistic assessment of their own financial situations and to implement budgetary and financial management strategies appropriate for the still very perilous times ahead.”
FMA’s Founder and Managing Director, Hilda H. Polanco discusses the value of maintaining healthy reserves in an article entitled, Healthy Reserves Are No Accident featured in the Philanthropy Journal.
“Whether to be used as a “rainy-day fund,” to help smooth out transitions during turbulent times, or to leverage an opportunity in a strategic push, few will question the value of a strong balance sheet defined by ample, liquid unrestricted net assets.”