Financial Analysis Can Boost Your Nonprofit’s Success
Beth Huffman, Foster Results
2014 is well underway and already ushering in an array of new trends, from the latest fashions to cutting edge technology. A growing trend in the nonprofit world, however, has resulted from the not-so-new negative economic climate, which has brought along tighter resources for nonprofits – forcing organizations and funders alike to become more bottom-line-oriented.
“Funders are having fewer resources and greater demands,” explains Althea Gonzalez, North Carolina program manager for Hispanics in Philanthropy. Gonzalez tells The Nonprofit Times, “There’s going to be an increasing need to be able to demonstrate that the investment was effective. We want to make sure we’re making good investments, and strategic investments.”
While increasing demands for proof of a positive return on investment may seem like a hurdle for nonprofits, in actuality this trend creates new opportunities for organizations.
Nonprofits should take the time to analyze their data. The benefits to looking at trends within your financial performance are two-fold: Read the full article here.
Let Foster Results highly trained and experienced professionals focus on your financials — while your organization focuses on its mission. www.FosterResults.com.