Financial Leadership for Nonprofit Executives
By Jeanne Bell Peters and Elizabeth Schaffer; 134 pages; published by Wilder Publishing Center
If your eyes start glazing over at the thought of reading a financial statement, you're not alone. Unless you've chosen it as your profession, most people would rather leave 'the books' to someone else. But the fact is, a nonprofit organization will not thrive or survive for very long without solid financial leadership, and that starts with the executive director. Financial Leadership for Nonprofit Executives gives nonprofit leaders the tools to start taking an active role in the financial health of their organizations. It makes the case for striking a balance between mission and money, and getting out of the 'nonprofits can't make money' mindset is the first step. The authors take the view that nonprofits are not anti-businesses, but rather a type of business. And any strong business needs a leader who knows what is going on with the finances. A financial leadership self-evaluation let's you know where you stand in this regard.
Once you know your current situation, the authors explain the four stages of financial leadership: ensuring accuracy, assessing your financial situation, planning for the future (the budget), and communicating financial progress with all your stakeholders. The book uses a fictional case study to illustrate concepts, as they are introduced, complete with detailed financial statements and other pertinent planning information. A set of blank assessment forms is included in the appendix as well as online. The book also offers a comprehensive glossary of key terms - a handy reference when you fill out your own assessments or examine the financial statements of your organization.
Yes, this book is about nonprofit accounting, but it is not an accounting textbook. It is an easy to understand guide that avoids long-winded definitions and jargon. Whenever essential accounting practices are explained, they are accompanied by examples that illuminate the concepts in real-world terms. As a nonprofit executive, you might prefer to focus your energy on mission rather than money, but good leaders must have a vision of where their organization is going financially and how it will get there. This book helps you get started.
Buy the book:
Canada: buy through Amazon.ca
