Money Managing in Challenging Times

First of all, thanks to all those who attended last weeks training.  The resources we talked about will be listed below.

It goes without saying that these are interesting times financially and operationally for the charitable sector.  Like many of you, I went through the economic slowdown that came after the tech meltdown in 2001 but this seems to be of a far greater magnitude.  But if there can be any silver lining in all of this, I think it is a greater focus on the operational side of nonprofit organizations.

I have read more articles about not-for-profit operations, administration and finance recently than I think I have in the last ten years.   And they have been positive.  They have spoken of the need for organizations to look at how their finances and operations are handled, to make sure they have the systems in place to be able to figure a) out exactly where they stand financially and b) what to do going forward as far as budgeting, cash flow and capacity.

While I’m not happy about the pain that will be felt by many organizations and the populations they serve I am pleased that these discussions are taking place and that we will end up with a stronger sector once this crisis passes.

Below are many links to articles and resources on money managing in tough times, divided into three sections.  More resources come out every day, so at best this list will only be complete as of the moment it is published, so if you know of any good resources that are not listed below please add them to the comments section.  And don’t forget to subscribe to the comments to see what others add.

The Big Picture — Stuff on where we are and how we got here.

• Bridgespan Group’s Managing in Tough Times section.  Includes their very nice “7 Steps” article and survey.
• The Nonprofit Finance Fund’s Guide to Navigating the Financial Crisis including the recent survey: America’s Nonprofits in Danger.
• The Foundation Center’s Washington DC blog lists other reports here including the Quiet Crisis which is a very good read.
• The Chronicle of Philanthropy’s Surviving Tough Times collection of articles.
• Civic Enterprises – The Quiet Crisis, The Impact of the Economic Downturn on the Nonprofit Sector.

Tools — Don’t reinvent the wheel, get these tools and get to work.

• The Plans for the Economic Crisis Wiki has discussions, articles and a community of folks to draw on or put your ideas out to.
• Improving Cash Flow Management In Challenging Times – From The Nonprofit Quarterly.
• Available to purchase from BoardSource, Surviving the Financial Crisis.
• The Minnesota Council of Nonprofits collection of 990 resources.
• The Nonprofit Finance Fund’s financial self assessment.
• The National Council of Nonprofits has these resources, and you can find your state association their too.
• 22 Structural Strategies for Nonprofits
• What is scenario planning and how do we do it?
• Collaborations, Strategic Alliances and others: what they are and resources to help.
• Fundraising in Tough Times
• Bridgespan’s Nonprofit Cost Analysis Toolkit
• From the Nonprofit Assistance Fund:
  • The Sustenance in Lean Times Section
  • Their Financial Management Resources including the budgeting, cash flow and cash analysis tools.
  • A scenario planning guide.

Help Is Out There — I’ve said before that this is a sharing sector.  Check these folks out.

• The Nonprofit Assistance Fund’s blogs.
• Who I’m following on Twitter.  Then look at who they are following, and so on.
• The Nonprofit Law Professor’s blog.
• The Nonprofit Quarterly‘s Cohen Report.

Resources for Individuals

• 360 Degrees of Financial Literacy’s Recession Survival Links

Again, please add resources, tools and people to the comments below.  Thanks.