Having a CFO in a nonprofit organization is a game changer. Today, I want to share with you how a nonprofit CFO can help make difficult decisions and help you navigate those tough times. There are three ways that nonprofit CFOs can show up to really help in a difficult decision time or a tough time. 

Crisis Management

     When I think about crisis management within a nonprofit, I think of the 2020 pandemic and the shutdowns of so many businesses I think about how many nonprofit missions were compromised, and how many others were inundated with increased demands in order to serve people during such a horrible time. Amid the fears of funding loss, there were government programs flying left and right. Do we apply for PPP funds? Do we not apply? Do we qualify? How do we make this calculation? Well, that's a perfect example of how nonprofit CFO can be incredibly valuable during a time of crisis to help navigate all of those important financial decisions.

Budget Management

The second area is in a season when there is just a lot of changes happening. So I would call this the budget management value, since a budget is not “one and done” and then put up on a shelf. A strong CFO has this incredible superpower to both look in the rear view mirror, or an ability to look at what's already happened in the finances, and also keep a view out the front window on the vision of the nonprofit. Budget management and budget adjustments are critical to providing timely reactions, changes, and adjustments to keep those financial decisions at the forefront and keep that nonprofit moving effectively throughout the year. 

Tough Calls During Financial Downturns

     The third benefit is that nonprofit CFOs are helpful in making the tough calls during financial downturns. Those calls are critical at those points to keep the nonprofit stable. Every nonprofit needs a voice at the table that's able to say, “The emperor has no clothes!" While that may be a children’s literature example, the fact of the matter is that sometimes you need someone at the table who's able and willing to convey the truth of what is being seen, especially in the finances. One of the best compliments I've ever received was from someone I worked with when I was a CFO inside the organization who said, “You have a way of saying no, but with a smile.” And that's the truth. It doesn't have to be confrontational. It's actually very kind to be super clear and provide the information leadership needs to make tough decisions. 

What If Your Nonprofit Can’t Hire a CFO? 

          For those of you who don't know, I am a fractional CFO. I serve nonprofits that are smaller in size than being able to hire their own in-house CFO. So if that describes you, I would love to have a conversation with you!

     But, if these fractional services are not yet possible for your organization, I’ve created a new option just for nonprofits like yours. It’s called Your Nonprofit CFO. This low cost monthly subscription will help you gain traction in moving your mission forward and it’s a great fit if you’re not able to hire that fractional work yet but still need ongoing support. 

In this monthly subscription you will receive:

•  Exclusive access to a community of leaders teaching on topics that are pertinent to where you’re at right now
•  A toolbox of nonprofit financial resources
•  Access to monthly group coaching calls

To receive an exclusive invitation to this new opportunity, you can subscribe to my weekly financial tips here!