Top 10 nonprofit challenges in spite of recovering economy
By Erica Crenshaw In Strategic Finance Posted September 17, 2015 0 Comments
A study this year by the Nonprofit Finance Fund surprisingly reveals challenges nonprofits still face in spite of the distance we’ve gained from The Great Recession nearly six years ago. Detroit, in particular, signals this contradiction between a recovering financial climate and nonprofits persisting under operational strain. While the city of Detroit emerged from a […]
Greenpeace: A cautionary tale of financial mismanagement
By Erica Crenshaw In Strategic Finance Posted August 22, 2014 0 Comments
Greenpeace: A cautionary tale of financial mismanagement The blogosphere and nonprofit trade publications are all abuzz with the story of Greenpeace’s loss of $5.2 million thanks to a reckless investment decision made by the senior financial officer who has since been fired. This costly error prompted subsequent discoveries of financial disarray and allegations of hypocrisy […]
CPA or CFO: What is the right solution for your organization?
CPA or CFO: What is the right solution for your organization? At the beginning of this year, I highlighted some of the lessons learned and common themes related to how nonprofits fared throughout 2013.These observations were the result of a presentation I gave to a group of nonprofit leaders at a W.K. Kellogg Foundation convening […]
Jazz Fest overcomes harrowing debt through leadership, collaboration and sustainability
Jazz Fest overcomes harrowing debt through leadership, collaboration and sustainability The details of the last decade for the New Orleans Jazz Fest read like a famous story. There are villains, heroes and a lot of drama in between. But nothing other than dramatics would be fitting for this remarkably entertaining event that has become a […]
Part II: Leverage the benefits of recognized financial models
By Erica Crenshaw In Strategic Finance Posted March 4, 2014 0 Comments
Part II: Leverage the benefits of recognized financial models My early professional career was in the corporate financial world, so I’m aware of how the corporate sector has long benefited from a common language that facilitates an easier discussion with potential investors. Both parties share an awareness of successful strategies such as “low-cost provider” or […]
Part I: Leverage the benefits of recognized financial models
By Erica Crenshaw In Strategic Finance Posted February 17, 2014 0 Comments
Part I: Leverage the benefits of recognized financial models Words can inform our mind, thrill our spirit or destroy our self confidence. Some call language a “tool of transformation.” No matter the intent behind your words, leading nonprofit thinkers agree the power of language is evident in every aspect of the sector. The influence of […]
Nonprofit Finance Fund Survey Highlights Boards and Funders
Nonprofit Finance Fund Survey Points to Boards and Funders More than 4,000 nonprofits responded to the Nonprofit Finance Fund (NFF) survey this spring about their financial affairs and the results were incredibly disheartening. NFF President and CEO Antony Bugg-Levine called the nonprofit sector “a system increasingly under pressure and one that will crack.” Only 43 […]
A New Year and a New Business Model
A New Year and a New Business Model It’s no coincidence our sector is looking at redefining its business models when 88% of nonprofits in 2012 were faced with increases in the demand for their services despite 57% barely having enough cash on hand to last them three months. In “ Pride & Prejudice: (What) […]
CPA v CFO
By Erica Crenshaw In Strategic Finance Posted April 29, 2013 0 Comments
Who Best Meets My Needs: CPA or CFO? The age old question, “do I need a CPA or a CFO?” Often times to save money or simply out of a lack of knowledge, organizations will ask a CPA to fulfill the duties of a CFO. Worse yet some CEOs will hire a CPA and not […]