It’s no secret: managing a non-profit’s finances is tough. Non-profit organizations are pushed to think creatively about how to do more with less. Sources of income are inconsistence and donations come with strings attached.
On October 20, 2010, GlobalGiving hosted two webinars on Financial Management presented by Denise Phelps, the Treasurer of Maryland School for the Deaf and Civitan Club. During this one-hour training, Denise shared tips and tools for managing an organization’s finances including:
- what to include in a policies and procedures manual;
- how to record cash flow;
- suggestions for responsible budgeting;
- how to monitor fixed assets;
- what to include in annual reports;
- and much more!
Denise encouraged all webinar participants to use the Bristol-Myers Squibb Foundation’s NGO Financial Management Pocket Guide which includes additional information on financial management and useful worksheets for bank reconciliation, budgeting, etc.