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We all hoped the uncertainty would be over at the end of session. Then,
whatever the state budget cuts were, organizations could address them
appropriately. Unfortunately, now we have to wait until July 1st at the earliest
to know how the Governor will approach unalottment.
Based on his original budget proposal and subsequent statements, it is likely that he will implement a
significant education shift, cut local government aid, further reduce health and
human services, and decrease aid for higher education, among other cuts. All of
these will impact the nonprofit community and those we serve.
While we continue to play the waiting game, we urge you to be diligent about
contingency planning. Use our scenario
planning guide and template to think through your options. By assessing
these difficult choices now, you will be better prepared to adapt to reductions
in state and local funding.
We encourage you to take advantage of these and all other available resources
to help put your organization in the best possible position.
Resources
Improving Nonprofit Decision Making
We're excited that our Executive Director, the "wildly practical" Kate Barr,
is featured in the spring issue of Nonprofit Quarterly. Her article, Improving Nonprofit Decision Making amid Economic Crisis,
discusses the importance of taking action and offers some suggestions for how to
improve organizational decision making.
After reading the article, you can use our resources to start making decisions at your organization.
Maximize Your Treasurer and Finance
Committee
Too often these important and valuable roles turn into nothing more than rote
reviews of financial reports and audits. Members of the committee wonder why
they accepted the position - and may even dread the meetings for the dull,
unimportant tasks on the agenda. Fortunately, it is possible to reinvigorate
these roles to develop a truly strategic and vital role in oversight, planning
and governance. The first step is to reconsider the job descriptions and second
is to find the right candidates for the jobs.
Read
this article, written by Kate Barr for Nonprofit World, to learn how to make the most of your
organization's Treasurer and Finance Committee.
Resources Highlighted in Nonprofit Harvest
At Nonprofit Harvest we're keeping track of new developments in
the world of nonprofit financial management. Here are some new resources and
articles that are particularly useful:
Upcoming Workshops
Managing Cash Flow
June 16, 9:00am - 12:00pm
Managing your organization's cash flow is especially important in this
economic climate. Learn how to better understand your monthly income and
expenses, anticipate and avoid cash flow problems, and use our cash flow
template.
Register
today and begin implementing healthier financial practices at your
organization.
Social Enterprise Network
Calling all social entrepreneurs!
The Social
Enterprise Network is a peer group run by Nonprofits Assistance Fund and MAP
for Nonprofits specifically to strengthen and support Minnesota nonprofits that
operate a social enterprise.
If you are a nonprofit social entrepreneur, join us at noon on Thursday
June 11th at Rebuild Resources to discuss Competition and Competing
with Business.
We have also created a LinkedIn Group for participants in the Social Enterprise
Network. Use this tool to pose questions, share resources, and reinforce
connections with other practitioners of social enterprise.
Financial Management Network
And don’t forget to participate in our monthly lunch series
for nonprofit leaders, the Financial
Management Network. Join us at noon on Wednesday, June 24 to
share thoughts and ideas with your peers on this month’s topic, In-Kind
Contributions. Just bring your lunch, your business cards, and your
ideas.
Notes
from previous discussions are available on our website. Whether or not you
are able to attend the network, you can benefit from the wisdom of your peers.
Learn
more about our workshops and other upcoming events.
Conferences and Events
Planning for Uncertainty
This financial management breakout session is part of MCN's Leadership Conference on June 4th. The session
will focus on what will to do if/when things don't go according to plan.
Accurate budgeting and cash flow planning is becoming increasingly difficult for
nonprofit leaders. Participants will receive an overview of a scenario
budget planning tool and discuss how to effectively use cash flow
projections in times of uncertainty. The conversation will prepare leaders to
adapt to changing circumstances while minimizing negative impact and sustaining
your mission. Please contact MCN for details.
Engaged Philanthropy Conference
The second annual Engaged Philanthropy Conference takes place on Thursday
June 18th. The conference, sponsored by Social Venture Partners, is designed for "anyone interested in
having a personal impact on social change in Minnesota and in meeting
like-minded people." The event features a keynote address by business and
social entrepreneur Don Budinger and relevant breakout sessions. The Social Entrepreneur’s Cup, division of the Minnesota Cup, will
also be awarded during the day. Our executive director, Kate Barr, is one of
the judges for this exciting competition that celebrates Minnesota's most
innovative nonprofit social entrepreneurs.
Keeping Your Finances in Good Working Order
This breakout session is part of MCN's conference, Nonprofit Essentials: The Nuts and Bolts of
Practical Management, a day-long event on June 23rd that will help
nonprofit staff at all experience levels on the concrete basics of nonprofit
management to create healthy and thriving organizations.
Nonprofit staff and boards share responsibilities related to financial
management and oversight. This workshop will examine these responsibilities and
introduce several fundamental financial management tools. Please contact MCN to register.
About Us
- Medtronic Grant Supports Capacity Building Programs
Medtronic Grant Supports Capacity Building
Programs
Nonprofits Assistance Fund is pleased to announce a two-year grant of
$100,000 from the Medtronic Foundation. These funds support our Financial
Management Training and Technical Assistance programs, which build the financial
management capacity of Minnesota's nonprofit community. In challenging economic
times, the ability to understand your financial circumstances, assess your
options, and then take action as necessary is more important than ever. This
grant from Medtronic will help us further expand and enhance Financial
Assessments, training and technical assistance that meets the needs of
Minnesota's nonprofit organizations.
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