There’s a common push-pull in the nonprofit world. Some days, your work is tightly aligned with your mission, which feels great—but isn’t sustainable if you’re not also focused on financial stability. Other days, your focus is on fundraising, reports, and other money matters—leaving you worried that you’re losing sight of your mission and the good work you’re here to do.
How can you balance your head and your heart? Or, more specifically, how can you balance your nonprofit’s mission and the need to be financially stable and achieve growth in the years to come?
Clarify your mission
Keeping a healthy balance between your mission and your finances requires, first and foremost, clarifying your mission. Make sure everyone in your organization knows what you are doing and why, what your goals are, and what your values are. That way, when a difficult financial decision needs to be made, everyone involved is on the same page.
Track your donors
Keeping close track of your donors and their gifts will help you avoid straying from your mission. Make sure every donation is used as it was intended and goes toward your mission and growth.
Are donations coming in from unexpected sources? Are a couple of mega-donors steering the organization away from its mission? Make sure you identify potential trouble spots before they cause real damage to your organization and its reputation.
Know your numbers
The best nonprofits are driven by heart, not numbers. But it’s also true that great nonprofits know their numbers inside and out. You have to maintain deep, clear insights into your revenue, cash flow, expenses, and other financial metrics in order to spot trends and ensure that your growth is tied to your mission.
Sage Intacct, the cloud financial solution, has helped hundreds of nonprofits pursue their mission more effectively. Sage Intacct gives you more visibility into real-time metrics and better tracking to create tighter controls. Plus, it frees your team members to spend more time furthering the organization’s mission and less time creating, editing, and reviewing reports.
Grow the right way
Michaud Accounting Solutions works with nonprofits nationwide and has decades of both accounting and software expertise. We can help you implement Sage Intacct and streamline all your accounting processes so you can achieve deliberate, sustainable, and mission-driven growth.