February 2007

Welcome to the newly redesigned Nonprofits Count. While the look may be new, it still contains plenty of useful information from Nonprofits Assistance Fund to help your nonprofit thrive.

This issue of Nonprofits Count:

• Lower Interest Rates
  
• Dashboard Reports
• Profile of Success - Our Saviour's Outreach
• March Workshops
  

Lower Interest Rates!

Nonprofits Assistance Fund is pleased to announce a new approach to setting interest rates on loans. We want to make it easier for your nonprofit to thrive by offering a flexible source of loans – and affordable interest rates.

We have heard from nonprofit directors that they have three primary concerns about interest rates:

1. They want the rate to be as low as possible
2. They want a fixed rate rather than a variable rate that could increase at any time.
3. They want low upfront expenses like points or fees.

We are pleased that our new interest rate policies help to address all of these concerns. And since generous support from banks and foundations has increased funds available for lending, we have more flexibility in setting interest rates.

The “Prime rate” for commercial bank loans is currently 8 ¼%. NAF fixes interest rates for the full term of the loan so that the nonprofit can budget for payments and know the rate won’t go up. The upfront costs are low also, with no application fee, a single loan closing fee, and no points. (there is a fee for lines of credit).

Learn More About Our Loan Programs

Dashboard Reports

The dashboard in your car shows you the speed, fuel level, oil pressure, blinkers, and warning lights. Think of all the other information that could be displayed as well - but isn’t – because too much information is overload. This same idea can be applied to reports given to your board. Give them the info they need in a format that is easy to gauge. Cull through all the possibilities and select the five to eight key indicators that convey the most important measures for your nonprofit organization.

Profile of Success - Our Saviour's Outreach

If you are one of the many people without a home, a Minnesota winter can be deadly. Luckily, places like Our Saviour’s Outreach Ministries offer a safe warm place and caring helpful people for those seeking help. But in order to provide the help needed, they first had to be able to help themselves financially. They turned to Nonprofits Assistance Fund for the advice and support they needed.

Read more about Our Saviour's Outreach

March Workshops

We still have a few spaces left in our March Financial Management Workshops. Workshops run from 9am - Noon and only cost $45. Sign up today!

March 6, 2007, Presenting Financial Reports to the Board

March 20, 2007, Understanding Earned Income

March 27, 2007, Advanced Nonprofit Budgeting

Nonprofits Assistance Fund is a nonprofit community development organization that fosters community development and vitality by building financially healthy nonprofits. Nonprofits Assistance Fund provides financing for working capital, cash flow, equipment and facilities projects with a focus on strengthening the operation and mission of nonprofits. We also offer financial management workshops and advice that improve nonprofits' capacity to carry out their mission.