CHAPTER TWENTY-ONEPLANNING AND MANAGING FINANCES: TOOLS AND TECHNIQUES
Thad D. Calabrese
Many managers in the nonprofit sector may view financial management as a nuisance, at best, or a necessary evil, at worst. Regardless, the importance of managing financial resources and achieving long-term financial health remain top concerns of nonprofit managers. One survey of nonprofit managers found that achieving long-term financial sustainability, raising revenues that are not restricted by donors, and running programs that cover its full costs are top concerns for a majority of nonprofits.1 To survive difficult financial times, organizations need to use good times to prepare. While such preparation surely includes accumulating savings for use in ...
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