In the wake of financial scandals in the private and nonprofit sector, nonprofit financial teams are examining their financial controls and policies. The Sarbanes-Oxley Act of 2002 really began the push for increased accountability in the private sector, and much of that sentiment is approaching on the state level for the third sector. After many years of loose financial management and oversight, nonprofits are now realizing the need to produce useful financial information to their boards, donors, and stakeholders.

CNI will provide nonprofit leaders with the tools and strategies to overcome challenges in a variety of topic areas such as internal controls, financial reporting, creation and responsibilities of the audit committee, financial relations with the for-profit and government sectors and aligning with state standards of excellence programs.

Trends & Methodologies for Outcome-Based Funding & Evaluation

There is more federal money being dispersed today than ever before, and there is more scrutiny to show outcomes and results.  Much of the federal money is transferred to state and local entities, then distributed through those vehicles.  An important technique to measure and evaluate the impact of grants is ROMA, or Results Oriented Management & Accountability.  This requires programs to look at impact and change instead of simply process and service.  Elizabeth Holden, a senior fellow with the Council for Nonprofit Innovation, provided a comprehensive overview of outcome-based funding & evaluation at the recent Funding Outcomes conference.

Necessary Evil: The Business of Nonprofits

Good and decent intentions do not by themselves achieve results. Nonprofits succeed in their missions only by applying sound business and financial practices. Nonprofit executives and boards must pay careful attention to the organization’s financial practices, probably more so than they realize when taking on the position. Applying budgeting and forecasting best practices, staying compliant with federal and state regulations and managing grants soundly are all critical functions for the survival of a nonprofit organization. Funding agencies seek more quantifiable measures of progress, and thus are demanding annual outcome measurement reports that can only be produced through sound financial management.

YouthNoise Announces Funding Blueprint for Non-Profits

Many nonprofits are forced to spend a great deal of time, resources and energy to raise the capital needed to run their organization and achieve their mission.  Fundraising is generally a year round, daily activity that consumes much of the capacity of the nonprofit.  YouthNoise, the young person’s social change network, has announced an initial funding round to meet financial needs, similar to an initial public offering. This funding strategy is a model that can be used by nonprofits across the country in order to minizmize their operating expenses.

BBB’s Methodology Questioned by Some

The Better Business Bureau is awarding their seal of approval to San Diego charities and nonprofits to improve public trust in the sector.  Some nonprofits are against the move, stating that their sector is too diverse to fit a single standard for financial ethics. About two dozen local chapters of the Better Business Bureau rate nonprofits, and the cost to the nonprofit ranges from $1,000 to $15,000.  The entire application process is voluntary so there is no undue burden placed on nonprofits that are not interested in the program. 

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