This program is designed to strengthen the financial resilience of nonprofit organizations in North Carolina. Intended for both funders and nonprofit leaders, the program will begin with an introduction to the concept of “full cost” funding and budgeting as strategies to support nonprofit financial health. Full cost goes beyond programmatic budgeting to include things like having working capital to pay bills on time and having reserves to manage risks or opportunities. Building on this foundation, participants will then engage in a dialogue around recommendations for post-COVID recovery and rebuilding that advance equity in the nonprofit sector.
In this session, participants will:
- Review the challenges of nonprofit finance and implications of the “flawed system”
- Define components of full cost and explore how to prioritize full cost needs
- Gain language to name and claim the full cost needs of an organization
- Examine NFF’s recommendations from a report to LA County leaders to ensure post-COVID recovery efforts center the most impacted communities
- Engage in dialogue to unpack the barriers and opportunities around these recommendations
- Participate in group discussion on ways to take meaningful action locally
Recording length: 2 hours, 10 minutes
Speakers: Claire Knowlton, Director, Advisory Services, Nonprofit Finance Fund; Trella Walker, Vice President and Chief Strategy Officer, Team Leader, SIEC, Nonprofit Finance Fund
Key Topics: full cost, accounting, funding, budgeting, fundraising, cost allocation