The origins of financial fear for nonprofits, how to ask for crucial information tied to impact, and the importance of aligning financial data with the nonprofit’s organizational missions. Featuring guest Jacqueline Tiso, the CEO of JMT Consulting. With an emphasis on innovation and strategic anticipation, this conversation provides actionable insights for nonprofit leaders seeking to navigate financial challenges.
Nonprofit organizations often grapple with financial anxiety. Jackie is recognized for her expertise in nonprofit financial management. She’ll highlight the need to address the roots of financial fear and adopt a proactive approach to financial decision-making. She emphasizes the importance of aligning financial strategies with organizational objectives on impact, urging leaders to embrace innovation.
Jackie amplifies on the critical role of the finance department as a service provider within the organization, noting, "The Finance Office is a service department for the rest of an organization. The customers of that finance department are the program managers, the grant managers, the CEO, board members, funders, everyone... The information has to be understandable for who you're delivering it to."
Moreover, Jackie describes the necessity of leveraging technology to streamline financial processes and enhance decision-making. She says, "Our poor organizations, they're in a rowboat when it comes to technology. When you want to be forward-focused, you can't do this stuff in Excel... You just can't make it happen in Excel unless you had one or two people, and that's all they did all day long."
By incorporating Jackie’s insights into your operations, it will help cultivate a culture of transparency, efficiency, and strategic planning, ensuring sustainable growth and impactful outcomes for your nonprofit, NGO, or charity.
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