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Executive Directors in partnership with board members serve as the
financial leaders of the organization. Yet as you try and fulfill your
role, you get bogged down in jargon and process of accounting without
really understanding how to use what you’re looking at to strengthen
your organization. This interactive webinar breaks down the financial
statements in an easy to use manner. We’ll go beyond just how to read
the financial statements, covering the key questions you should be
asking to assess your organization’s financial health. We’ll also cover
cash flow and present an easy to understand dashboard to inform and
engage board members.
Learning Objectives
At the conclusion participants will:
- Understand the two essential nonprofit financial statements:
Statement of Financial Position and Statement of Activities
- Have a list of questions to be able to easily assess the
financial health of the organization and know strategies to improve
it
- Understand the difference between cash flow and financial
statements and have a tool to forecast and manage cash flow
Who Should Attend: Executive Directors, senior managers and
board members looking for an overview of the organization’s financial
statements and an easy way to assess your organization’s financial
health.
Presenter: Steve Zimmerman
Date: To be announced.
Time: 11:30 AM - 1:00 PM CDT
Introductory Price: $69
Session Agenda
Overview of Financial Leadership
Understanding Financial Statements
- Balance Sheet
- Income Statement
- Types of Nonprofit Income
- Cash vs. Accrual Accounting
Assessing Financial Health
- Do we have enough cash to pay our bills?
- How is our cash flow?
- Are we on target for our budget?
- How is our reserve?
- Are we using restricted cash?
How your activities fit together
- Does everything need to break even?
Presenter Bio: Steven D. Zimmerman, Spectrum Nonprofit
Services
Steven D. Zimmerman, CPA, MBA is the Principal of Spectrum Nonprofit
Services where he performs training and consulting in the areas of
finance and strategy for community-based organizations throughout the
country. Spectrum Nonprofit Services provides strategy and management
expertise to enable nonprofits to work more effectively as they better
our society and enrich our lives. Steve offers data-driven management
consulting based upon the theory of the dual-bottom line of nonprofits –
mission impact and financial viability - and helps organizations better
understand their intended impact, business model and how their different
activities interact to create a viable organization with high impact.
When leadership understands these elements they are better positioned to
make ongoing strategic decisions to strengthen their organization.
Steve is co-author of the new book "Nonprofit Sustainability: Making
Strategic Decisions for Financial Viability" published by Jossey-Bass in
2010. He writes the Finance and Strategy column for Blue Avocado, an
online magazine for nonprofits with over 60,000 subscribers, and has
also written for The Nonprofit Quarterly, Board Source and spoken
nationally on these topics. Prior to starting Spectrum, Steve was a
Projects Director with CompassPoint Nonprofit Services, one of the
nation’s leading nonprofit consulting, training and research
organizations. Steve contributed to development of CompassPoint’s
Business Planning framework, wrote and delivered trainings in finance
and fundraising and consulted on management issues to organizations
ranging from $250,000 to over $20 million in revenue. While there Steve
co-authored with Jeanne Bell the California Nonprofit Integrity Act
Toolkit. Steve’s extensive nonprofit experience includes serving as a
Chief Financial Officer, Development Director and Associate Director at
community-based nonprofits where he performed turnarounds resulting in
increased financial sustainability and programmatic reach.
Steve approaches nonprofit management with a passion for
mission-based organizations and a strong foundation in finance. He is a
Certified Public Accountant and earned a BA from Claremont McKenna
College and an MBA from Yale University.
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