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For months we have urged nonprofits to actively engage in scenario planning
to assess their options. These plans can help you adapt to changing
circumstances and focus on sustaining your mission. Now we're taking things to
the next level with a new workshop, Planning
for and Managing Uncertainty. This training is built around our scenario
planning tools and is specifically designed for executive directors and
finance managers of small- to mid-sized nonprofits.
Planning for and Managing
Uncertainty
We are pleased to be partnering with the Minnesota Council of Nonprofits to offer this timely financial
management training. This workshop will unpack different scenario budget
planning tools, including cash flow projections. The tools and strategies
discussed will prepare leaders to thoughtfully respond to the changing
environment.
Participants will leave with:
- A better understanding of which questions to ask
- Information on which conditions require different approaches
- Ways to minimize the negative impact of difficult budgeting decisions
- Budget scenario and cash flow projection templates
Although the content will be useful for all, the session will be particularly
beneficial to the leadership of small- to mid-sized nonprofits. Attendees are
encouraged to bring copies of their organizational budgets and cash flow
projections and to share ideas with their peers during the session.
Michael Anderson, a trainer and loan officer, will deliver this workshop at
various locations around the state. Find
the location closest to you.
This is a two-hour workshop, but you are invited to bring your own financials
and stay afterward to ask any questions you might have.
To register, please contact MCN.
From the Blog: Balancing the Mission
Checkbook
Kate's recent blog entry, Donors and Overhead: Maybe They Don’t Care, has sparked
conversation on facebook and generated comments about the value on investing in infrastructure.
What do you think about this topic? What are your concerns as a donor? How do
you make the case for investing in your organization, as well as its specific
programs. We invite you to participate in this dialogue online and at your own
organization.
Other Recent Blog Posts
Announcing the Resilient Organizations Fund
We are pleased to partner with Fieldstone Alliance and MAP for Nonprofits to design and implement a special project
funded by Blue Cross and Blue Shield of Minnesota Foundation. The
Resilient Organizations Fund will support the Blue Cross Foundation's
current grantee and partner organizations through a series of capacity building
activities and a special grant opportunity. For additional information, please
read
the full press release or visit www.resilientnonprofits.org.
More Than A Loan
As an educator, Sabrina Williams understands that learning happens inside and
outside of the classroom. Ms. Williams founded Excell Academy in 2000, a K-8
school in Brooklyn Park dedicated to providing students with learning
opportunities and academic experiences which normally are not made available to
them. She was passionate about education and the possibilities of the charter
school movement, but inexperienced as an executive. Ms. Williams drew upon the
range of training, financing, and other programs offered by Nonprofits
Assistance Fund to help her school thrive. By taking advantage of these
resources, Excell went from a difficult financial beginning to winning school
finance awards.
Describing Excell's early struggles, Ms. Williams said: "We were walking
blind. We made decisions based on hopes and dreams, not based on numbers."
Developing management skills is a common challenge for charter schools. Staff
and boards often lack the administrative and financial expertise needed to
successfully manage a school. Many charter schools sub-contract their financial
management support, but the board and administrators need to understand and use
this information.
Ms. Williams and her staff took a series of financial management classes with
Nonprofits Assistance Fund. Applying their training, they began reviewing
specific financial reports, including regular cash flow statements. By tracking
attendance, enrollment, and cash flow, Excell was able to make informed
management decisions and adjust their budget as necessary. They set specific
revenue goals and methodically increased enrollment in order to meet these
benchmarks.
 As the school grew, its finances stabilized. However, Ms.
Williams continued to seek out new learning opportunities. She was an active
participant in LEAD for Charters, a program to build the business management
capacity of Minneapolis area charter schools. As part of LEAD, Excell underwent
a strategic planning process. The plan included renovating and expanding
school's current facilities while continuing to increase enrollment.
To finance the project, Excell waged a capital campaign and received a
$500,000 facilities renovation grant from the Department of Education.
Nonprofits Assistance Fund provided a bridge loan for $260,000, allowing the
school to complete construction over the summer. Describing the process of
working with Nonprofits Assistance Fund, Ms. Williams said, "Phil Hatlie really
knows how to relate to charter school people. He was very knowledgeable, but
didn't use any jargon. The terms and conditions were very clear."
Excell paid off the loan ahead of schedule and the expanded faculties were
ready in time for the first day of school in the fall of 2008. The school
currently serves 431 students and continues to balance growth and new program
offerings with realistic projections. With training and support from Nonprofits
Assistance Fund, Excell continues to emerge as a stronger and more stable
charter school.
Resources for Charter Schools
Charter schools face unique financial management challenges, particularly in
dealing with the state holdback. To better meet the needs of school
administrators, we have created a specialized Charter
Schools Cash Flow Template. Use this tool to manage your school's cash,
accounts receivable, expenses, and more.
Enterprising Socially
Six months ago, Nonprofits Assistance Fund and MAP for Nonprofits began an experiment - we launched the Social
Enterprise Network.
From conversations with different organizations, we knew that there was
interest in an affinity group specifically for social entrepreneurs. Even though
we knew there was enthusiasm for the idea, in practice adding one more thing to
already busy schedules is always a challenge. However, these monthly meetings
have been more successful than we had hoped.
The buzz about social enterprise is backed up by innovative, dynamic and
hardworking nonprofit leaders. Although sometimes competitors, the participants
are generously sharing their experiences, lessons learned, and tricks of the
trade. The collective wisdom in the room each month leads to a rich discussion
of topics ranging from governance to competition to the emerging L3C structure.
In this time of change and challenge, it is exciting to see this community of
practice emerge. We hope that the Social Enterprise Network continues to grow
and mature.
What Is It?
The Social
Enterprise Network is a peer group to strengthen and support social
entrepreneurs. Join us at on Thursday August 13th in the MCN Conference Room
to discuss Collaborations, faciliated by Brian Paulson of Greater Twin Cities United Way.
The network meets monthly on the second Thursday from
12:00-1:30pm. The discussion runs from 12:00-1:00 and participants are
encouraged to stay and continue networking until 1:30.
Sign
up now to be a part of the discussion.
Recent Discussions
Upcoming Workshops
Presenting Financial Reports to the Board
Tuesday, August 18, 9:00 am - 12:00 pm
Your board of directors has ultimate fiscal responsibility
for your organization. This workshop will help you work with them more
effectively.
- Learn how to evaluate your board's financial capacity and teach board
members about nonprofit finance
- Discuss how to improve the flow of financial information between staff and
board
- Explore different report formats
- Learn to write effective narratives
Learn
more.
Register
today and begin implementing healthier financial practices at your
organization.
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, August 26 to
share thoughts and ideas with your peers on this month’s topic, Preparing
Grant Budgets. 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.
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