VIDEO PODCAST: How and Why to Do Regular Financial Health Assessments for Your Organization [SUBSCRIBERS-ONLY]
Ben and Mike discuss the importance of performing regular financial health assessments for a nonprofit organization, understanding the key components of an organization’s financial health and the appropriate financial health markers to track, how the Financial Health Assessment and Implementation Framework worksheet can be a valuable tool for your organization, and more.
CHAPTERS:
00:00 - Intro
01:45 - The key components of financial health for a nonprofit organization
02:52 - Raising awareness of your organization’s financial health
04:44 - Identifying the markers of financial health to examine for your organization (less is more)
09:30 - Using the Financial Health Assessment and Implementation Framework worksheet
15:11 - The most common disruptions to financial health
17:22 - An example involving a drop in operating reserves as a result of an acquisition opportunity
19:21 - How often to do financial health assessments
21:48 - Getting input from a wide range of employees inside the organization
FURTHER READING:
Integrating Financial Health Assessments into Your Organization’s Planning Process
