Nonprofit Finance Fund (NFF) recently surveyed over 1,100 nonprofit leaders nationwide (including in the Greater Hartford region) regarding the impact of the recession on their organizations. Learn what these leaders said about the financial state and particular challenges facing their organizations.
Visit the Nonprofit Finance Fund site.
Nonprofit Finance Fund has compiled a list of tips for sound financial planning, which are particularly vital in unstable times. Their Guide to Navigating the Financial Crisis provides key questions and assessment tools for nonprofits weathering the recession.
Nonprofit Finance Fund's guide for sound financial planning.
BoardSource’s Surviving the Financial Crisis: A BoardSource Toolkit, is a downloadable resource that includes topics such as raising funds in turbulent times, setting policies that keep boards focused, budgeting and other financial controls, dashboard reporting to monitor performance, spotting red flags and other warning signs.
Surviving the Financial Crisis Toolkit
Bridgespan’s Managing in Tough Times Resource Center includes articles and resources to help nonprofits.
Visit Bridgespan's Resource Center.
Fieldstone Alliance offers strategies to help nonprofits facing funding cutbacks. Their website provides tools and suggestions as a starting point for brainstorming strategies, and to help you organize your thinking and analyze the current approach to fulfilling your mission.
Fieldstone Alliance's nonprofit strategies
Blue Avocado Finance Fear Factor Ratios
Watching the traditional indicators of financial health -- like performance-to-budget or reserve size are important, but they may not give you the immediacy of knowing whether you need to worry today. Read more about a few simple ratios that can help you gauge important financial indicators such as cash availability.
Bule Avocado's Finance Fear Factor Ratios
Pro Bono Partnership (which provides pro bono legal services to nonprofits) is able to help nonprofit organizations identify and proactively address legal problems that arise as a result of the current recession. Its Nonprofit Crisis Management Initiative includes assistance in:
- Making lease payments or satisfying other contractual obligations
- Fulfilling terms of government contracts
- Reducing the size of the workforce while minimizing the chances of a law suit
- Forming strategic alliances with other nonprofit organizations
- Restructuring debt
- Deciding to file for bankruptcy or to dissolve the organization
- Understanding the board’s fiduciary obligations in the current economic climate and what liability board members may incur as a result of their decisions.
Please contact Priya Morganstern to learn more about these services at 860-541-4951 or pmorganstern@probonopartner.org.
The Hartford Foundation helps support the Pro Bono Partnership.
Internationally known author, trainer and consultant, Kim Klein, provides fundraising tips to survive and thrive in these challenging times.
Tips to Survive in Uncertain Times (PDF, 69 KB), By Kim Klein