Nonprofits have incredibly talented and compassionate professionals on their board of directors. These resources are energetic, committed to the mission, and dedicated to the success of the organization.
Unfortunately, resources are often limited to provide critical training. In 2014, GuideStar and the Stanford Graduate School of Business conducted a study which surveyed over 900 directors of nonprofit organizations on the efficacy and practices of their boards. Their findings? You guessed it. The Boards fell significantly short on everything from governance to structure and engagement.
Nonprofit financials are unique in their terminology, concepts, accounting practices and methodologies, and certainly their tax regulations. It is so easy and sadly, quite common, to make a grave mistake with the best intentions. Do not take risks with your important mission.
The organization cannot afford an easily avoidable accident. At CFO Strategic Partners, our CFO Consultants are well-versed in the unique challenges faced by this important sector, and we can help.Tags: 990s, Board of Directors, Charity, grant, nonprofit, Organization
“Our organization was navigating an intense transition involving our government funding partners and public officials. Without the help of CFOSP, we would have experienced severe financial impacts and certainly lost donor confidence.”
CEO Central Florida Historical Society
“I applaud the stellar support provided by our CFO in embracing and understanding our budget priorities and operations that entail hundreds of financial transactions each month and several millions of dollars in expenditures annually. The nature of our business is very complex, yet your firm did not shy away from the challenge of establishing accounting processes and procedures that will sustain us well into the future.”
Kissimmee Chamber of Commerce, Experience Kissimmee
“…The services they have provided have tripled my bottom line, giving us serious profit levels that have helped fund company growth…”
President, Engineering Firm
“There is no limit to the value of the collective experience that the CFO team brings to the table. Their expertise in debt management, tax reporting, cost of funds, and in-depth analysis has been more than I could have hoped for…”
CEO/President, Hotel Corporation
“Since we began working with CFO Strategic Partners, we’re in the best financial position we’ve ever been in… CFO gives my staff and myself financial peace of mind so we can focus on clients and business at hand.”
CEO, Insurance Agency
“With CFO as our partner, we’re able to see the total picture…. Through their expertise, we’re receiving the highest level of educated financial planning that will propel us into the future.”
President, Florida Architectural Firm