Nonprofits play a vital role in society by indirectly boosting the economy. Just like their for-profit counterparts, they have payroll, pay mortgages and utilities and have overhead costs. Unlike for-profits, they rely primarily on grants, donors and the community for financial support – making it all the more important that they understand the financial risks they face.
Earlier this year, the findings from a study put out by SeaChange Capital Partners, Oliver Wyman and GuideStar, “The Financial Health of the United States Nonprofit Sector: Facts and Observations,” were released and the results signaled an urgency for improved risk management to reduce the likelihood of financial distress within the sector.
Some key takeaways from this report include:
- Overview of the size and scale of the US nonprofit sector
- Key financial metrics segmented by size, sub-sector and geography
- Learn how you can strengthen your nonprofits financial position
- Ideas for reducing financial distress within your organization
- Key financial health indicators
If you missed it, download your copy today and learn how you can either put a holistic risk management framework in place or enhance your current risk management practices!