Strategic Financial Planning for Nonprofits
Presenter Gretchen Upholt of Financial Management Associates will guide participants with intermediate and advanced financial management skills through a budget process that facilitates programmatic, strategic, and fiscal discussions among an organization's leadership team. Breakfast and lunch provided.
Program Description: A viable financial management strategy needs to address a vision for the future as well as incorporate an understanding of the past and present positions of the organization. This course will help participants with intermediate and advanced financial management skills develop a well-designed budget process that facilitates programmatic, strategic, and fiscal discussions among the leadership team, resulting in a mission-driven budget.
Participants will learn how to take their budgeting process to the next level, gaining a firm grasp of technical and philosophical best practices regarding the nuts-and-bolts of nonprofit budgeting in a changing environment. The workshop will also introduce participants to the Program Based Budget Builder, an Excel-based financial planning tool.
Participants are encouraged to come in teams of two, and to bring along the current operating budget of his or her organization.
Key concepts covered:
- Defining financial goals and objectives in the budgeting process
- Implementing a comprehensive and inclusive financial planning process
- Identifying, allocating, and building indirect costs into program budgets to understand the real costs of program delivery
- Creating a funding plan to support your program objectives including budgeting for various scenarios
- When and how to use multi-year budgets in the planning process
- Incorporating cash flow projections in the annual budgeting process
For organizations in need of additional help to fully absorb the concepts learned in the training or explore challenges specific to their operating context, FMA will provide individualized support in the form of one-on-one coaching. Coaching will take place in 1-2 hour sessions via telephone or video link in October, November and December.
Questions? Contact Jackie Downing at 203-777-7072 or email: email@example.com