Organizations with strong financial management are better able to fulfill their missions and deliver high-quality services. With Fiscal Management Associates, a leading financial management consultant for nonprofits, the Wallace Foundation created this library of resources to help your organization become "fiscally fit."
Strong financial management involves four key elements – planning, monitoring, operations and governance.
- Planning - With budgeting and financial analysis, you can use your resources strategically to help achieve your organization's goals.
- Monitoring - Regularly review financial results to ensure you're using resources according to your plan – and advancing organizational objectives.
- Operations - A strong infrastructure for planning and monitoring means both employees who know how to analyze information and software that helps them.
- Governance - Your board of directors should provide the oversight and guidance to ensure the organization fulfills its obligations – and its mission.
Learn more about the resources available to help grantees and nonprofits become strong financial managers at strongnonprofits.org.