Ensure Adequate Financial Resources – 6th of 10 Responsibilities of Nonprofit Boards

An organization can be effective only if it has enough financial resources to meet its purposes and advance its mission.

For most nonprofits, balancing the budget has two dimensions: 1) finding dependable revenue streams, and 2) raising money.

Boards can help to suggest and create products and services that will generate income while remaining consistent with the organization’s mission.

They can also engage in fundraising to attract contributions from individuals and corporations, and foundation and government grants. They can help identify and cultivate potential donors. An organization’s effectiveness in fundraising is directly linked to board members’ participation.

Advertisements

About cozbycpa

Heather L. Cozby is a CPA on the South Shore and Cape Cod. The managing partner of Cozby & Company, LLC, Heather has the resources and experience necessary to provide quality professional services on a timely basis and at a reasonable cost. She specializes in tax planning & preparation; audit, review & compilation services; management advisory services; bookkeeping; and accounting. Her unique niche is in working with homeowners’ associations and condominium trusts, advising with rental real estate, and providing outsourced financial consulting for mid-sized companies. She is more entrepreneurial than most accountants, and offers the best of both worlds - providing the services of a larger firm while retaining the ability to connect with her clients on a personal level.
This entry was posted in Charitable Organizations, Condominiums, HOA, Non Profits, Planning Strategies and tagged , , , . Bookmark the permalink.