The recent stimulus package included resources for Small Businesses, including nonprofits. They range from forgivable loans to bridge loans repayable in 12-18 months, to working capital loans at low interest rates. The links below take you to several sites which describe these loans and how to apply. Also, the Chambers of Commerce are hosting weekly and bi-weekly conference calls where the heads of various agencies provide greater insight. If you are a member of the Chamber, look for these opportunities.
By Susan Rosati
Financial testing at your non-profit has never been more critical and this article from NPQ offers great advice on how to weather the storm. By calculating these simple ratios and reviewing your cash flow your organization can better understand their reserves which will allow for better planning in any scenario. In addition to these steps the mission margin matrix allows non-profits to dig a little deeper and highlight both impact and profitability. These are productive steps to take and by including everyone in the discussion not just a few non-profits will get through this crisis. CLICK HERE for the article.
By Sharon Danosky
If I were to give two words of advice to nonprofits and their fundraising teams it would be this: RETENTION MATTERS!
After GIVING USA 2018’s report forecasted a long, hard road ahead for fundraisers, Non Profit Quarterly analyzed the data from last year’s Fundraising Effectiveness Project and noted “The study found that the number of people who gave in 2018 fell by 4.5 percent while the acquisition of new donors fell by 7.3 percent. For smaller nonprofits without connections to wealth, this trend should be considered a warning, especially within the context of slow or flat growth in individual giving overall.” [Read more…]
By Susan Rosati
I recently learned that the financial consulting I wanted to offer a group of savvy Executive Directors wasn’t exactly what they looking for. My idea was to come to them with cool tools and colorful fresh ideas that would really impress a board. However, what they really wanted was more simple tangible guidance. In general, my ideas were good but they took a little time to implement. I was painfully reminded that Executive Directors have no time to waste and are pulled in a million different directions on a daily basis. That’s why I keep my approach simple and more practical especially when it came to the budget. [Read more…]