[Featuring Jim Croft, PhD | Principal, J.W. Croft Consulting Group]
Living year to year via annual operating budgets is more of an exercise in surviving, rather than thriving. But mission-driven organizations envision bigger and brighter futures, and their plans should reflect these aspirations. While predicting the future is exceedingly difficult, having a roadmap to a better tomorrow is vital, and the exercise of building this roadmap, with different scenarios, is the duty of executive leadership.
In this video, we discuss the importance of:
• Developing a long-term financial plan for the nonprofit organization.
• Using financial models to add a dynamic element to the long-term financial plan.
• Presenting clients with integrated financial models to help them think through different scenarios, create cash budgets, and adopt operating budgets and associated performance metrics as management tools.
We believe that finance is one of the fundamental languages of any mission-driven organization, and are committed to working directly with clients to improve their financial literacy, and to translating finance-based principles and plans into communications that resonate with their stakeholders.