Top 3 Things NonProfit Execs Do With Money

Leaders in nonprofits are heroes! It is a full-time job to focus on the people you serve and to keep your mission and programs going. But your leadership doesn't stop there. You are also leading the facilities, the board, the staff, the marketing, and the money. I get it!  It makes sense that money can get lost in the priorities and lack being overseen at times. But the impacts of that can be tragic.  

Kevin O'Leary of Shark Tank says, "Money is my military. Every dollar is a soldier. I never send my money to battle unprepared or undefended. I send it to conquer...." This wisdom applies to nonprofit finance too!  The top 3 things Nonprofit Execs do with money:

1. Make preparations. Use a budget. A budget is directing money to accomplishing the mission.
2. Play defense.. Create safeguards against wasteful spending, but also against theft.
3. Measure it. Use financial reports. A budget to actual report measures what got done. It's not the only financial report you should be using but it's a great place to start.

I know the challenge; you may not have gone to management school. And if you did, you probably didn't learn this stuff in school.

That’s ok – but learn it now!  Subscribe to my blog for weekly financial tips.  I can help you get confident about the money manners so that you can focus on your mission and multiply your impact.