Nonprofit organizations are more likely to emerge stronger from tough economic times when they are communicating consistently and operating effectively, reports a new study by Fiscal Management Associates and ERE LLP its affiliated public accounting firm.
The report puts forth three principles to maximize fiscal resources — efficiency, reliability, and collaborative decision making — to serve as guides to address the challenges that organizations face at various growth stages.
The report gathers responses from 290 nonprofit organizations representing the full range of mission areas, budget sizes, and stages of development, from small start-up arts organizations to multi-million dollar city-wide social service agencies.
The questions cover a broad range of fiscal management areas and dig deeper into how financial information is generated and communicated within organizations, with questions about, staffing patterns, day-to-day accounting and fiscal management, budgeting and reporting, accounting software systems, communications with the external auditor, and communications with the board of directors.
The survey responses, organized by budget size, serve as a snapshot of nonprofit organizations poised on the brink of an economic recession. It is from this perspective that the results are presented as a guide to help nonprofits understand critical decisions around fiscal infrastructure and governance, and for their stakeholders to gain a broader understanding of practices and needs within the sector.
Download the report for free here: http://www.fmaonline.net/custom/survey.html
