Posts tagged with "mip user group"

FTM Nonprofit Forum – December 23, 2020 – Developing Effective Dashboards and Key Performance Indicators

Developing an effective dashboard and key performance indicators

Nonprofit Forum Agenda                                                                                                                              Register

11:30 to 12:30-Developing an Effective Dashboard and Key Performance Indicators

Do you have a dashboard and know what your key performance indicators (KPI’s) are for your organization?  Please bring your questions so we can have a candid conversation regarding dashboards and KPI’s.

We will cover the critical aspects of Effective Dashboards and Key Performance Indicators including:

Nonprofits are complex organizations that are built around mission and outcomes, which must be supported by the right revenue and expense models.

Dashboards are one way to simply communicate and give an overview of the organization by using a graphical summary of important information. It is an easy way for decision-makers to see where and whether the organization is on the planned financial path, and additionally can be used with funders and stakeholders to transparently show progress towards desired goals.

But a dashboard without metrics is useless to the organization, it is important to develop the associated metrics and constantly review to ensure you are measuring success for the organization.

A properly designed dashboard allows a nonprofit to monitor its effectiveness as evidenced by the financial health along with the impact of the programs and services provided.  Board and staff should develop strategies and goals to create dashboards with focused conversation and collaboration.

When you select the dashboard elements, you should understand the data you will track and how that data will influence decision making.  Questions to ask include: Are the metrics for the organization or function? Is the tool for the board, staff, or funders?

This webinar will help Executive Directors, Finance Directors, and finance staff to develop and use a financial policies and procedures manual.  Savvy nonprofit leaders know that effective dashboards and key performance indicator development can be the difference between good and great performance.

Immediately following the presentation on the benefits of outsourcing nonprofit accounting, we will host a discussion on MIP advance, graph, and chart refresher.

Those attending the forum will receive handouts.

12:30 to 12:50-MIP User Group-MIP advance, graph, and chart refresher for MIP

12:50 to 1:00-FTM Updates and Closing                                                                                                                                                       Registe

FTM Nonprofit Forum – November 18, 2020 – Effective Nonprofit Financial Governance and Leadership

Are financial governance duties clearly understood and performed by the board, finance committee, and executive committee(s)?   Register

This webinar will help Nonprofit Leaders, Executive Directors, Finance Directors, Finance Staff, and your board members to define, document, and execute crucial responsibilities.  Avoid complacency and confusion by clearly defining and communicating expectations.  Savvy nonprofit leaders know that a dynamic board can be the difference between good and great performance.

How would you answer the following questions:

What are the typical financial responsibilities and misunderstandings of board members?

What are the essential financial governance responsibilities for the nonprofit board and its members?

What are the nonprofit financial governance basics and misperceptions that board and nonprofit leaders need to know?

We will answer this and more.  We will review and take a financial acumen quiz to reinforce leadership learning and address the confusion of financial governance.

Immediately following the presentation on nonprofit financial governance, we will host a MIP Fund Accounting User Group meeting focusing on board financial reporting and other financial governance.

12:30 to 12:50-MIP User Group-Board Financial Reporting and other financial governance

12:50 to 1:00-FTM update and Question and Answer session                                                                                                                Register

FTM Nonprofit Forum – October 28, 2020 – Effective Grants Management and Cost Allocation

Nonprofit Forum Agenda                                                                                                                                             Register

11:30 to 12:30-Effective Grants Management and Cost Allocation

How should you perform your grants management and cost allocation responsibilities?   We will describe the best practices for these responsibilities.  Please bring your questions so we can have a candid and productive conversation.

We will cover the critical aspects of grants management and cost allocation including:

  • General grants management requirements
  • Governance requirements for grants administration
  • Review Uniform Grant Guidance
  • Internal control and financial management system requirements for federal awards
  • Schedule of Expenditures of Federal Awards and associated audit requirements
  • Cost Allocation methodologies including examples
  • Cost Allocation plan requirements
  • Best practices for grant budget financial management
  • Best practices for grant reporting and reconciliations
  • Performing an effective grant close out
  • How to use your accounting system to perform grants management role?
  • How to maximize your grant reimbursement?
  • What are signs that grants management role is not being performed?

How should you as leader evaluate your various options?  We will share our expertise and candid advice to better prepare you for these complex decisions.

3 Key Things you will learn include:

  • What are best practices for performing grants management role effective?
  • What are federal compliance grants management requirements?
  • What are signs that grants management role is not being performed correctly?

Those attending the forum will receive handouts.

12:30 to 12:50-MIP User Group-Grants Management and Cost Allocation refresher using MIP

12:50 to 1:00-FTM Updates and Closing

FTM Nonprofit Forum – September 30, 2020 – Building a Superior Budget

Building a Superior Budget

RegIster

11:30 to 12:30-Building a Superior Budget

How should you evaluate your budget and planning process?  Please bring your questions so we can have a candid conversation regarding budgeting.

We will cover the critical aspects of budgeting including:

A strong budget is an essential element for any nonprofit organization to achieve financial leadership. Superior budgets, though, have written plans about the core activities to include strategic, organizational, and program goals and how they will be financed.

Most financial leaders focus too much time on budget variance analysis and not enough time to anticipating or planning for the future. By anticipating or planning, organizations can focus on what’s upcoming regardless of their budget cycle or fiscal year-end.  A budget can be complemented with rolling forecasts to better anticipate upcoming financial results.

Budgets also need to include cash flow projections, which may be outside of the finance department’s capacity or capabilities.  Financial leaders must have a direct role in developing useful cash flow projections and assumptions with frequent, detailed analysis.

Any cash flow shortage needs to be further evaluated to determine if it is just a timing difference or an actual cash deficit.  Shortfalls created by deficits need to be solved by budget adjustments or strategic choices to absorb a shortfall. An organization can determine the timing or actual deficits by reviewing the budget to see if it had planned for or not.

Financial sustainability can only be achieved with a well-prepared and continuously monitored budget.  Conversely, a poorly developed budget can diminish mission-focused activities opportunities and threaten long-term success.

This webinar will help Executive Directors, Finance Directors, and finance staff to develop and use a financial policies and procedures manual.  Savvy nonprofit leaders know that effective budgets and projections can be the difference between good and great performance.

How should you evaluate your budgeting process