Dates: 04/15/2021, 04/20/2021, 04/22/2021, and 04/27/2021
Times: Each at 1 pm eastern
Run Time: Each session is 2 hours including Q & A
Leader: Brad Lebowsky, MBA, Nonprofit Consultant
Credits: Each session awarded 2 credit hours by HRCI and 2 PDCs by SHRM
Price: Webinar $1195; Webinar + Download $1295 (Share the download with your colleagues or use the downloads for board of director training)
Audience: Executive directors, nonfinancial senior executives, directors, etc.
Generally, a nonprofit’s senior executives and board members don’t come from an accounting background. More likely, they are attracted to an organization because of its mission. This explains why they may be unfamiliar with good day-to-day nonprofit financial management practices. This deficit, however, doesn’t excuse them from their fiduciary responsibility to oversee the fiscal practices of the organization. After all, the success of your nonprofit depends on both its mission and the sound financial management of the organization.
Senior executives and board members need a basic understanding of nonprofit accounting and financial management in order to fulfill their financial management oversight responsibilities. This doesn’t mean you need to be an accountant or have a degree in finance. But you do need to understand several fund accounting and financial management principles and how they apply to your organization’s operations–and these shouldn’t be difficult to grasp. By understanding these basics you’ll be in a better position to participate in all phases of your organization’s financial management and budgeting. You’ll see more clearly how your strategic initiatives determine your fiscal plans. You’ll also get a better understanding of the different sources of revenue and related expenses and see how each contributes to cash flow. You’ll understand how changes in cash flow can dictate revisions to the annual budget.
Individual funds, revenue recognition, expense allocation, restricted vs. unrestricted funds, IRS Form 990, building reserves, income diversification, revenue and expense allocations, etc. You should have a working knowledge of all of these terms, but this doesn’t mean you need to become your organization’s financial officer. You can develop this knowledge with training. The type of practical training which provides you with what you need-to-know and doesn’t waste your time with what you don’t need-to-know. So, who has time for training?
The Nonprofit Financial Management for Nonfinancial Executives‒A 4 Session Webinar Series may be the answer you’re looking for. The program consists of 4 ninety-minute webinar sessions, presented over a 3-week period, which you can attend from your office. If you are not able to attend a session, you can use the download for that session to keep up with the information you miss.
Each session focuses on an important area of nonprofit financial management and provides the financial management tools you need to carry out your fiduciary responsibilities more effectively. Upon completion of the series, we’ll send you your Nonprofit Financial Management Training Certificate of Completion from e-Learning Pro, LLC. This attractive certificate is proof that you take your oversight responsibilities seriously and have devoted the necessary time to making sure your financial management skills are up to the challenge. The attractive certificate is suitable for framing and proudly displaying.
The program consists of four 90-minute webinar sessions ‒ 6 hours of training. Below is a brief outline of major topics covered during each session:
Session 1‒ Financial Policies & Procedures, Accounting and Financial Reporting, April 15, 2021
Financial policies & procedures, basic fund accounting principles, financial management terms, financial reports, IRS Form 990
Session 2‒Budgeting Process, April 20, 2021
Operating. cash and capital budgets, organization and department budget preparation and implementation, tying budgets to the organization’s strategic plan and department budgets, program budgeting, forecasting
Session 3‒Accounting, Tracking & Reporting, April 22, 2021
Cash flow projections, monthly budget tracking–actual versus budget, mid-year budget reforecasts, funding sources and related expenses, revenue and expense recognition and allocations, key performance indicators, organization sustainability, liquidity
Session 4‒Oversight, April 27, 2021
Board of Directors responsibilities, Board of Directors committees, internal controls, budget review and approval, fraud prevention, audits, executive compensation, risk management, ethics, information technology
Brad Lebowsky earned his MBA with an emphasis on nonprofit management specializing in finance and budgeting. Brad has more than 25 years of nonprofit management experience and is a sought-after speaker, author, and nonprofit consultant. His areas of expertise include budgeting, finance, grant writing, strategic planning, board training, retention of donors, employees, volunteers, and professional development. He is also the author of Downsizing: Alternatives for Companies; a resource for those affected, and has produced a podcast, The Career Mentor Podcast, which is available on iTunes, Spotify, and Podbean.com. Brad can be reached at Brad@4NEA.com. As a speaker, author, or consultant his overriding goals are to grow people, communities, and resources for nonprofit organizations across the country.