Session Description:
Nonprofit organizations are confronted with managing during continuing uncertain times where the path forward can and will most likely change quickly. These conditions naturally cause feelings of unease and hesitancy. Strong financial and budget communication practices and protocols are essential for management to effectively lead and be innovative during challenging times. First, we will discuss tactics for communicating difficult budget issues to your Board. We will explore how to incorporate multi-year budgets and associate key assumptions driving those multi-year budgets and forecasts into essential management and messaging practices. We will then look at how organizations should assess the purpose and impact of Board designated funds and consider alternatives. We will conclude with a discussion on incorporating Empathetic Stewardship of Financial Health and Financial Performance and how to get out front and be a leader in these areas.
Learning Objectives:
- We will discuss three tactics for communicating budget issues with your Board.
- Learn how to incorporate multi-year budgets and associated key assumptions driving those multi-year budgets and forecasts into essential management and messaging practices.
- We will explore how organizations should assess the purpose and impact of Board designated funds and consider alternatives.
- We will conclude with a discussion on why nonprofits need to be better at melding stewardship of financial performance with empathy.
