A few weeks ago, I spread the word about my free Lunch and Learn at the Foundation Center. It was a one-hour session covering topics to promote effective financial stewardship and oversight. I provided tips on how to make it work, no matter how small the organization. The session went well and the participants had some great examples and questions that deepened the experience for everyone.
Believe it or not, we touched on these five topics in a little over an hour:
- Fiduciary Roles and Responsibilities – The duty to act in the best interest of the organization and avoid conflicts of interest
- Financial Policies and Procedures – The framework for managing donated funds and defining Board and management roles and responsibilities.
- Budgeting – The game plan for using diversified funding sources to deliver programs and services and to operate and sustain the organization.
- Financial Reporting and Monitoring – Oversight necessary to fulfill fiduciary responsibility, including monthly reports that should be reviewed and acted on.
- Annual Financial Statement Audit and IRS Form 990 Information Return – Reporting requirements to comply with regulations and report how funds are used.
My Lunch and Learn was just one of many free and low-cost nonprofit resources offered by the Foundation Center. They conduct lots of great training at their office in Washington, DC and at partnership sites, including Arlington Public Library. On the day that I looked, their calendar included a great writing workshop and introductory classes on individual and corporate fundraising.
The Foundation Center even has a Nonprofit Research Library with on-site Research Librarians to help you find what you need. Library materials are even available online, accessible from wherever your nonprofit is located. And it’s all free!
Check out the Foundation Center training calendar at https://grantspace.org/ and see what free nonprofit resources are there to help your organization. And who knows? I might be on that calendar again, offering another financial workshop to help nonprofits meet their financial management goals.