Brian Keel

Working with boards is a topic that DBD Group has written about at length. Less popular, but only slightly less important, is creating an effective Finance Committee for your nonprofit. This group can be the most dynamic, exciting and important group in your organization.

From monitoring financial performance to approving budgets and financial policies, vetting loan options to overseeing the audit process, there is plenty to dig into. The best committees don’t just happen though. They are intentionally built, diverse in more ways than you might think, and given a clear chart of work.

Have you ever wished that property abutting one of your current locations would come on the market? What if a for-profit service provider in your community wanted or needed to exit a facility that was perfect for a service expansion? What if the undeveloped parcel that fits your long-term strategic plan suddenly became available after years of cultivating the owners?

Would you be in a position to close? The timing doesn’t always line up, and it’s possible that you wouldn’t be. But instead of walking away, consider the often-overlooked source of bridge funding: the friendly buyer. The friendly buyer purchases and holds the real estate with the intention that at some future date, your organization can and will purchase from them.

Here are three scenarios that we’ve seen play out in real life.

As the new year rolls in, many nonprofits are embarking on a brand-new budget, with clean slates, fresh aspirations, and strategies poised for success. You may also find your organization with a new class of volunteers on your board of directors, fresh faces on committees and perhaps even new staff members on your team.

I recently joined a meeting with a new client that is about to embark on his first capital campaign. He asked a great question, “What do you wish you would’ve known before your first capital campaign?”

Hindsight is usually 20/20 so I was grateful for this great question and the ability to help this client avoid some preventable pitfalls.

A few tips came to mind:

Autumn has arrived and the end of the year is much closer than the beginning.  The fourth quarter can make or break your financial results and there are a number of things your organization should be talking about right now to help ensure the greatest possible success.

Most of us have spent a good portion of 2020 reacting to the multitude of changes in our work lives and home lives. Whether we reacted wisely or poorly, we were still responding to something happening outside our control.