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.”