All the Way to the Bank
True or false?
- Mission is more important than market.
- Nonprofits can’t make profits.
- Nonprofits must have balanced budgets.
- Deficits are better than surpluses.
- Income is more important than assets.
In yesterday’s nonprofit world, many might have found each of these statements “true.”
In today’s nonprofit economy, these traditionally held assumptions give way to a new understanding of nonprofit financial health.
More than ever before, nonprofit managers know that their organization’s mission, no matter how important, can’t exist without solid financial support and management. Smart money managers know that financial health is not about how much they have, but what they do with it. And the less you have, the more you need to make of it.
"All the Way to the Bank: Smart Nonprofit Money Management (2002, 127 pages) provides practical tools and techniques to help nonprofits make the most of their financial resources. The second edition includes updated information and two new chapters: "Presenting Your Worth to Financial Partners" and "Working Capital: Smart Money for the Long Run."
Inside this book you'll also find advice on:
- How to determine your financial worth
- Seven ways to improve cash flow
- How to spot red flags in your financial statements
- Seven tips for selecting the right bank
- How to use the "float" to your advantage
- Five tips for securing bank financing
- How to develop operating reserve funds
- How to present an accurate picture of your financial position to outside publics
Authors and contributors
Author Susan Kenny Stevens, Ph.D. previously led the LarsonAllen nonprofit and government group, after having founded The Stevens Group in 1982 and joining LarsonAllen in 1998. Susan is a consultant and advisor to numerous national and local foundations and has authored several books, studies, and articles on financial and management topics, most recently: Nonprofit Lifecycles: Stage-based Wisdom for Nonprofit Capacity
(2001), Investing in Capacity: How the Working Capital Fund Promotes Sustainable Change
(2001), All the Way to the Bank: Smart Money Management for Tomorrow's Nonprofit
(1997), and Keeping the Books: Developing Financial Capacity in Your Nonprofit Press
Contributor Terry M. Fraser, CPA and LarsonAllen nonprofit and government principal, oversaw the technical accounting material contained in this book. Terry has worked extensively with nonprofit organizations for over 20 years. She served as one of 15 on the AICPA Not-for-Profit Committee that wrote the current accounting and audit guide for nonprofits, and is one of the principal authors of Budgeting Your Way to Financial Stability (2002).
All the Way to the Bank: Smart Nonprofit Money Management reflects our group's hands-on work with hundreds of nonprofits, foundations, and banks across North American since 1982.
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