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News & Event

12.12.17: Best Practices in Financial Planning for NPOs

The Community Foundation of Eastern Connecticut and the Chamber of Commerce of Eastern Connecticut will host a workshop with Fiscal Management Associates of New York

Best Practices in Financial Planning for Nonprofits

December 12, 8:30 am to 3 pm

The Holiday Inn, 10 Laura Boulevard, Norwich

Who should attend:

Executive Directors, Finance Directors, Board Members, Treasurers, Senior Nonprofit Staff


$40 per person includes breakfast and lunch (a limited number of scholarships are available)

With the ongoing challenges associated with government budgets and public spending policies, many nonprofits organizations are seeing reductions in revenue and delays in payment associated with government funding. In this environment, an organization’s ability to create robust, flexible financial plans is critical. This workshop will focus on best practices in financial planning for nonprofits, incorporating practical tips and tools.
Participants will learn how to take their budgeting process to the next level, gaining a firm grasp of technical and philosophical best practices regarding the nuts-and-bolts of nonprofit budgeting in a changing environment. The program will also include a presentation of key concepts and approaches to “right sizing” an organization’s operations, given that in some cases nonprofits have limited leverage over particular revenue streams and may need to think seriously about changing or reducing their mix or levels of program services.
Topics covered in the session will include:

  • Implementing a comprehensive and inclusive financial planning process that includes both annual and multi-year planning
  • Identifying, allocating, and building indirect costs into program budgets to understand the real costs of program delivery

  • Anticipating and planning for healthy cash flow

  • Program portfolio analysis: How to use a “mission-money” approach to identify programs and activities for potential reconsideration

  • “Prevention is the best cure”: How to strategically approach decisions on new funding and program opportunities to avoid future challenges

The workshop will incorporate hands-on exercises, peer learning, and time for participants to reflect on how key concepts apply to the on-the-ground realities at their organizations. Relevant tools and resources will be provided to the participants as takeaways to help jumpstart financial strategy conversations at “home.”

Presenter:  Andrea Mills, MBA, CPA, CCSA,CGMA, Principal of Financial Management Associates of New York. Andrea has extensive experience working with nonprofits, individuals, and foundations helping them make important fiscal decisions. Her support enables organizations to improve the effectiveness of their giving and receiving of contributions through developing fiscal management tools, establishing appropriate fiscal policies and procedures, and advising on strategic decisions.


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