Non profit organisations do not measure their success exclusively or primarily by their financial result but rather by outcomes related to their missions or by a double bottom line that considers both financial and programs results. That being the case, however, it is the reality that many boards and CEOs pay particular attention to their organizations’ financial condition. Without adequate and well-managed resources, achievement of the mission is jeopardized, and the very survival of the organization may be threatened.
Many non profit board members are drown from the business community and may be more familiar, or more comfortable, with financial concepts than with the professional fields of the organization’s staff, so they often focus their attention on the budget and financial statements. In addition conservation of the non profit’s assets is an essential part of the board’s fiduciary responsibility, and any signs of trouble are likely to be addressed urgently. Few events can so quickly place a non profit officer’s tenure in jeopardy as an operation deficit, financial mismanagement, or a bad audit report. In sum, financial skills are necessary, even if not sufficient, to effective non profit management.
Through this course you will improve your skills in accountancy, budgeting, financial reporting and fundraising.