Faculty: A. Michael Gellman, CPA, CGMA, Fiscal Strategies 4 Nonprofits

Course Objective: This class, is an In-person all-day session that will cover all the basics of nonprofit finances including fiscal management and financial management projection-based budgeting. 

Part I: Afternoon – Fiscal Management and Financial Health  

During changing times, many nonprofit organizations are looking to enhance financial health and improve sustainability to help ensure a stable and viable future. In this second session, we will give you valuable tools needed to better develop financial reporting practices and oversight that will strengthen your financial management reporting systems and advance engagement, management, and understanding of financial statements and oversight of financial resources. 

We will discuss and explore the key differences in accounting practices and financial management perspectives between nonprofit organizations and for-profit entities, with a focus on issues related to funding, financial management, and public support status. Next, we will discuss the key components of nonprofit financial statement balance sheets so you will have the skills necessary to ask probing questions and teach your board how to identify areas of concern and changing trends. Group problem-solving and a case study will be used to provide an opportunity to try out your newly learned skills. 

Part II: Afternoon – Effective Financial Management Through Budgets and the Budget Building Process 

We will begin the day by focusing on the importance of being financially nimble during changing times and uncertain economic conditions. In this first session, we will discuss how budgets can be used to adapt to changing economic conditions and protect your organization’s resources. This interactive presentation will explore the concepts behind projection-based budgeting and how to fully integrate the non-financial manager, staff, and board member into the budget monitoring and budget-building processes to help your organization realize its full potential and maximize the use of its limited capacity and financial resources. 

Discover how budgets can be the catalyst for the interactive sharing of information and resources between senior management, board, and staff. Participants will be fully engaged through the use of a series of rolling budget case studies that they will interpret, discuss, and analyze. Concepts will be explained based on the use of direct real-life situations. This workshop will also explore the budget-building process, emphasizing how budgets work and how to make budgets work for you. You will receive valuable guidance on planning, the budget cycle, budget reporting, and budget preparation techniques. Participants will leave with sample projection-based dashboards they can adapt for use with their board of directors and staff. 

Note, that this class will be offered IN-PERSON and at the Center Office, Washington, DC – K Street, 1717 K Street, NW Suite 900, 1717 K Street NW Suite 900 Washington DC 20006.

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