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

Course Objective: 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: Morning – Fiscal Management

During these difficult times, many nonprofit organizations are looking to stabilize finances and improve sustainability to stay viable. This all-day session will give you valuable tools needed to develop financial practices and oversight that will strengthen your financial management systems and improve accountability to your board of directors, donors, and the general public.
The day begins by exploring the key differences in accounting practices between nonprofit organizations and for-profit entities, with a focus on issues related to sponsorships, grants, and contributions. Next, we will discuss the key components of nonprofit financial statements so you will have the skills necessary to ask probing questions, and teach your board how to identify “red flags.” Group problem-solving and a case study will be used to provide an opportunity to try out your newly learned skills.

Additional take-home resources related to the critical elements of financial accountability and transparency will be provided from three perspectives; financial accountability to the general public, to the board of directors and leadership, and from staff and management. Three checklists will be supplied to help assist you with improving your financial accountability and transparency and understanding your critical role in this oversight.

Part II: Afternoon – Financial Management Projection-Based Budgeting and the Budget Process

Given the current difficult economy, being financially nimble is now a necessity. In this second 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 process to help your organization realize its full potential and maximize the use of its limited resources.

Discover how budgets can be the catalyst for the interactive sharing of information and resources between management, board, and staff. Participants will be fully engaged through the use of a series of rolling budget case studies that they will have to directly interpret and analyze. Concepts will be explained based on the use of direct real-life situations. This workshop will also explore the budgeting 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.

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