3 Ways to Ease Into Your Annual Nonprofit Audit

Lorraine Faithful, Operations Manager News, Stories

Is it “annual fiscal audit time” for your nonprofit? It is if your nonprofit’s fiscal year is the same as the calendar year.  If you closed your fiscal year at the end of December, then you are most likely getting prepared for your auditors to examine your financial statements.  This can be a busy and stressful time for you and …

The Nonprofit Board Fiduciary Role

Lorraine Faithful Uncategorized

In the nonprofit sector, the board of directors is responsible for the well-being and financial health of the organization. The board as a body and each individual board member is expected to exercise due diligence while overseeing that the organization’s financial situation remains sound. Board members need to know proper financial processes and practices so as to not place an …

Nonprofit Budget Planning Made Easy

Lorraine Faithful Uncategorized

In my agency, I am partially responsible for creating, implementing, maintaining, analyzing, and reporting against the company annual budget, and I am always looking for ways to make the process smoother and more meaningful for all involved, and to give it the attention it deserves. Since I know how important sound financial management is, as it is a core principle …

Financial Leadership

Lorraine Faithful Uncategorized

When I came across an article about financial leadership, I happened to be in a place in my nonprofit career where I was ready to transition from financial management to financial leadership, so the article came to me at the right time and at the right place, as things so often happen to do. This timely article entitled, “An Executive …