By Nick Frigerio, Vice President and Manager, Planning Applications
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Nonprofit organizations play a crucial role in the communities they serve and ensuring their sustainability is paramount. To effectively fulfill their mission, proper financial planning and management are essential.
The foundation of strong financial management lies in defining the organization’s financial objectives. In addition, factors like the operating budget, investment strategy, liquidity requirements, diverse funding sources, and risk tolerance should be carefully considered. By establishing a comprehensive financial management strategy, nonprofits can wisely invest their operating capital and continually acquire more resources, thereby securing their sustainability and long-term viability.
Regularly reviewing the investment portfolio throughout the year is critical. A professional should be consulted to maintain clearly defined investment objectives and ensure that asset allocations align with the organization’s goals. This approach provides confidence that investments are well managed, freeing up more time for nonprofit organizations to focus on their core mission.
If your nonprofit organization requires guidance, we are here to assist. Our team of experienced financial advisors is eager to collaborate with you, whether in analyzing your retirement plan needs or providing feedback on your investment strategies. Let us help you thrive and make a positive impact in your community.
IMPORTANT DISCLOSURES: The information provided is based on internal and external sources that are considered reliable; however, the accuracy of this information is not guaranteed. This piece is intended to provide accurate information regarding the subject matter discussed. It is made available with the understanding that Benjamin F. Edwards is not engaged in rendering legal, accounting or tax preparation services. Specific questions on taxes or legal matters as they relate to your individual situation should be directed to your tax or legal professional.