Training One: Financial Health and Resilience by

2024-09-11 20:59:45 UTC

This was a great overview and many of the questions certainly applicable and relevant. If you are new to financials, however, it is overwhelming.

2024-09-11 21:00:14 UTC

I agree that sharing the deck ahead of time allows for better notetaking.

2024-09-11 21:00:47 UTC

Appreciate the links to articles and for those provided food for thought and resources.

More of the why upfront

2024-09-11 21:01:21 UTC

I understand that covering more of the why at the end, but would have appreciated it more at the beginning to frame the discussion of the series

fiscal sponsor financials

2024-09-11 21:01:29 UTC

I now know what to ask from fiscal sponsors for groups who are not yet a 501c3.

2024-09-11 21:01:31 UTC

I'm looking forward to the gathering of the group after. Perhaps a PEAK community also?

LUNA

2024-09-11 21:03:45 UTC

was a newer concept as a metric. Appreciated the push to think about using it in addition to Cash on Hand.

Appreciated the speakers. Such a great resource to us . Loved the links to additional resources

2024-09-11 21:12:54 UTC

State & IRS rules

2024-09-12 13:59:33 UTC

I didn't realize different states had different audit requirements for nonprofits. The sidebar on tipping prompted me to look into IRS rules for public charity status, which I understand better now so that was helpful even though we didn't cover it.

Nonprofit sector health

2024-09-12 14:02:37 UTC

I'd love to better understand the financial health of the nonprofit sector as a whole, especially coming out of COVID and the end of federal relief funds. Also would love to learn how to read a pro forma and assess whether projections are realistic.

Equity specifics

2024-09-12 14:08:22 UTC

The speakers touched on the importance of considering how underinvestment in marginalized communities can impact an org's financial health, but they didn't share specific strategies for what to do about it - ignore a weaker financial position and make a grant anyway? Provide more unrestricted funding? Offer TA/resources for strengthening financials? It would have been helpful to hear ideas of how other foundations are addressing the financial equity challenge.

Tipping

2024-09-12 14:40:38 UTC

did not realize so many foundations focused on/were concerned about tipping in financial review processes

I have never attended a training on nonprofit finances where audit documents were discussed and/or dissected. I found this to be very helpful. Additionally, the concept of LUNA and how to calculate were new to me.

2024-09-12 18:32:34 UTC

I had gotten out of the habit of looking at EOY deficits and surpluses. I see surpluses and never ask about an organization's plans. I should as this can be a telling response about vision, future, and priorities.

2024-09-12 18:35:34 UTC

In the chat, there was some discussion about how to evaluate financials when an organization is requesting a grant under $5,000 for instance. I would enjoy some thoughts on small grants and the need for financial reviews.

2024-09-12 18:36:39 UTC

I look forward to the next session.

2024-09-12 18:36:54 UTC

Follow-up Materials

2024-09-13 20:24:59 UTC

I am very grateful for such a thorough and expertly presented session from very knowledgable professionals - thank you!

I would like to request that if the session is not to be recorded, can the transcript be shared? even if edited?

So many details that come out of the sessions is not covered in the slides. Although I am very grateful those were shared. Thank you!