Nonprofit Finance Webinar Series for Hudson Valley Nonprofits

This is an informative recorded series on Financial Management in a post-COVID world. Nonprofits should consider having one staff and one board member from your organization attend each session. Attendees who require additional support to implement the concepts addressed in the webinars may also be eligible for limited follow-up technical assistance to address topics such as those listed below. (Limited to organizations in Columbia, Dutchess, Greene, Orange, Putnam, Rockland, Sullivan, Ulster, and Westchester Counties in NY; Berkshire, MA; and grantees of the Foundation for Community Health in CT and NY.)
  • Incorporating risk analysis and scenario planning into the budgeting process
  • Producing financial reports that clarify performance and key strategic concerns for management and board
  • Establishing working capital and reserve targets and policies
  • Assessing financial viability of organizational restructuring
  • Ramping up financial and governance and oversight processes

Details about how to take part in the follow-up technical assistance are given out at the end of each session.

Budgeting Effectively: A Team-Based Process

Presenter: Kelly Mathews, COO, Sr. VP Financial Management Group NYCON

A good budgeting process engages everyone who is responsible for implementing its priorities. It can get complicated as budget development and decision-making are driven by mission, financial need, opportunities and the Board’s fiduciary responsibilities for monitoring and oversight. The process should include enough time for review of strategic priorities and allow for review, feedback, and revisions.

Once a budget is in place – how do you manage this “living, breathing” document? As we have learned over this past year, things can change and having a good budget as a foundation can assist us with both navigation in the current period and adaptation for future sustainability.

In this session, we cover:

  • The 6 P’s of budgeting
  • Knowing ourselves – the sources of our revenue
  • Mapping our year – the good, the bad and the ugly
  • Thinking strategically-the impact of current decisions on future periods

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Nonprofit Financial Health Assessment

Presenter: Phil Rosenbloom, Tarn Consulting

This session provides an introduction on how to assess a nonprofit’s financial condition and needs with a particular focus on risk assessment during uncertain times. We also conduct a high-level review of the various financial impacts the pandemic has had on nonprofits to date, potential sources of ongoing risk as organizations look to reopen, and considerations for the roles of management and board in financial oversight.

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Post-COVID Financial Planning

Presenter: Phil Rosenbloom, Tarn Consulting

Expanding on the concepts addressed in Workshop 1, this session dives deeper into financial planning practices for nonprofits seeking to chart a financial course for reopening as the pandemic recedes. Topics include cash flow and budget projections, scenario planning, and setting reserve goals in the context of financial uncertainty. We also address broader financial considerations for growth in response to increased community need and structural changes such as mergers in response to financial pressures.

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