The Nonprofit Show
The Nonprofit Show is the daily live video broadcast where our national nonprofit community comes together for problem solving, innovation and reflection. Each day the panel of co-hosts and our guests cover the latest topics with fresh thinking to help you and your nonprofit amplify your social impact and achieve your mission, vision and values. With more than 1,100 episodes our library of learning is there for you and your organization. Learn more . . . https://americannonprofitacademy.com/thenonprofitshow/ Find us on YouTube: https://bit.ly/3A0Dqlw
The Nonprofit Show
Love & Risk: The Finance Secrets Every Nonprofit Must Know!
Nicole Frisina, from Your Part-Time Controller (YPTC), wraps our arms around the financial realities nonprofits face. With a creative spin on Valentine's Day, this valuable conversation explores the “red roses” of financial health and the “red flags” that can derail nonprofit organizations. "If you fail to plan, plan to fail. You must think ahead—whether it’s securing diverse funding, maintaining reserves, or ensuring financial oversight. Your mission depends on it."
Nicole emphasizes a crucial but often overlooked truth: finance teams are integral to a nonprofit’s success. Far from being mere number crunchers, they serve as strategic partners who can make or break an organization’s long-term sustainability. From the importance of segregation of duties to monthly financial reporting and reserve planning, this episode, hosted by Julia Patrick, is packed with actionable insights for nonprofit leaders.
One of the biggest takeaways? Nonprofits must diversify revenue streams to safeguard their future. Nicole warns about the risks of relying on a single funding source, recalling how performing arts organizations struggled during COVID-19 when ticket sales—their primary income—dried up. She challenges nonprofit leaders to think creatively: Can you rent out office space? Offer paid online resources? Secure a line of credit when your finances are strong?
Another vital part of their discussion is the power of financial transparency and collaboration. Development and finance teams must work hand-in-hand, ensuring accurate financial statements that allow for proactive decision-making. Nicole points to how regular financial reporting and documented policies serve as the foundation for long-term financial health.
And the duo don’t let us forget the importance of the IRS Form 990—often dismissed as just another bureaucratic headache. Nicole reframes it as a brochure for potential funders and board members. Filing late—or worse, failing to file—can lead to severe penalties or even loss of nonprofit status.
#NonprofitFinance #NonprofitAccounting #RiskManagement
Find us Live daily on YouTube!
Find us Live daily on LinkedIn!
Find us Live daily on X: @Nonprofit_Show
Our national co-hosts and amazing guests discuss management, money and missions of nonprofits!
12:30pm ET 11:30am CT 10:30am MT 9:30am PT
Send us your ideas for Show Guests or Topics: HelpDesk@AmericanNonprofitAcademy.com
Visit us on the web:The Nonprofit Show
