What are the main objectives of a successful non-profit? A non-profit is an organization through which the management of funds and services can improve the lives of their target audience in some way. Target audiences can vary from science, labor, and religious groups to schools, libraries and social groups.
These non-profits can be very different from each other. But there are many commonalities in which they can continue to be prosperous. The following defines ways in which they can continue to operate successfully:
1. They have the ability to set measurable goals and objectives.
2. They are capable of defining and delivering services defined from evidence-based practice.
3. They continue to drive revenue generating initiatives that may include on-going fund raising.
4. They have mastered the ability to educate the boarder public about their initiative and mission.
Over the next few newsletters, we are going to share several areas where as a “seasoned” accounting systems analyst and a non-profit president, I have “seen the light”. This light I speak of is a little painful for some of us but it is important insight for those of us who are involved with the management of non-profit processes. Together we will talk about the pain-points of accounting and business processes in non-profits that are common to most. Here are a few challenging items that may resonate with you:
• Delivery of reporting needs from sub-entities (local chapters and affiliates) to a national organization and vice versa.
• Budget Planning.
• Transparency of expenses.
• Adhering to our “cost to raise a dollar” guidelines.
• Petitioning sponsor and donors with the most appropriate documentation.
• Grant Management.
• Service and Program Management.
• HR and Payroll to internal staff.
• Expense Reimbursement.
• Speed of data entry.
• Small inventory management.
• Management of auditing requirements.
Stay tuned for our next article that will dive deeper into some of these areas. Please email me at firstname.lastname@example.org for comments or questions on this subject.