Telling Your Financial Story

Oct/18/2017

Telling Your Financial Story

Wednesday, October 18, 2017
9:00 a.m. to 3:30 p.m.

Presented by: Gina McDonald
Training Fee: $109* (full-day, lunch is included)

Workshop Description

Under today’s economic strain, it is critical that nonprofit leaders understand the “story” behind their organizations’ financial results. Leaders who have a firm grasp of the numbers will be better equipped to convey that story to both internal and external stakeholders. Such leaders will also be better positioned to use historical data to inform annual and strategic plans connecting the past to the future as they chart a course towards long‐term financial sustainability.

Using audited financial data, participants will gain an understanding of their organizations’ current financial health and trends over time, and how this information compares to industry benchmarks in the nonprofit sector.

Key concepts covered in the training will include:

  • Understanding audited financials, including the four key statements:
    • Statement of Activities
    • Statement of Financial Position (Balance Sheet)
    • Statement of Cash Flows
    • Statement of Functional Expenses
  • Discussion of key indicators of financial health (including relevant benchmarks for each metric):
    • Liquid Unrestricted Net Assets
    • Months of cash on hand
    • Operating results
    • Resource allocations among functions
  • Calculating financial metrics using an Excel‐based “Nonprofit Financial Health Analysis” tool (provided as a takeaway tool for all participants)
  • Communicating financial results to internal and external stakeholders

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About the Presenter

Gina McDonald, CPA is Lead Consultant at FMA. Prior to joining FMA, Gina spent 17 years in public accounting, including 10 years dedicated to nonprofit and governmental accounting and financial reporting. Much of her work then as an Audit Senior Manager was focused on assisting organizational management and board members understand their financial results and use that knowledge to drive efficiencies and make informed business decisions. In addition, Gina has expertise in evaluating the effectiveness and operation of internal controls and financial policies and procedures.

As a lead consultant, Gina continues to work closely with a variety of nonprofits organizations to assist in building their internal fiscal capacity. She is often part of a team dedicated to building long-term client relationships and providing one-on-one client service specifically tailored to each organization’s needs for finance department support. As the rules and regulations for nonprofit accounting and reporting evolve and become more complex from both a funder and a grant recipient perspective, Gina stays up to date on the changes in an effort to translate regulations into relatable terms and guide nonprofits in maintaining compliance.

Gina enjoys developing and conducting trainings on a variety of technical accounting and other matters affecting nonprofits. She is an instructor for FMA’s CNAP certificate program (Certified Nonprofit Accounting Professional), a comprehensive training focused on nonprofit financial reporting, internal controls, budget development, governance and the form 990.

Gina is current Board Treasurer of the Rhode Island Council for the Humanities in her home state, and she regularly seeks other opportunities to assist nonprofits both close to home and nationwide.

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Location

Unless otherwise noted, all workshops are held at the NonProfit Center in the 2nd Floor Community Conference Center, conveniently located in Downtown Boston at 89 South Street, Boston 02111 near South Station. For detailed directions please visit http://www.nonprofitcenterboston.org/directions

* If your organization is a tenant of the NonProfit Center, a fiscally sponsored project or grantee of TSNE Missionworks, please contact trainings@tsne.org before registering to request a scholarship rate of $25.00. Scholarships are limited, and awarded on a first-come, first-served basis; maximum 1 per organization per workshop.