The Sharpening Your Ax Series | Nonprofit Strategy Sessions

The Fundamentals of Financial Health

Join Brooke in this enlightening episode as she focuses on the critical aspect of financial health for nonprofits. As part of a special August series, Brooke shares valuable resources and insights to help you strengthen your organization’s financial foundations. From understanding key finance metrics to mastering true cost budgeting, this episode is packed with practical advice and strategies. Hear from special guest Germeen Guillaume, who brings a unique blend of accounting expertise and passion for social impact, as she discusses building a robust financial infrastructure. Whether you’re a seasoned nonprofit leader or new to the sector, this episode offers indispensable knowledge to navigate the financial challenges of nonprofit management and lay the groundwork for sustainable growth.

This week, I’ve curated 3 resources that will help you set your organization up for true stability and sustainability: your organization’s financial health.

Tuesday, August 15th

6-Minute Strategy: Finance Metrics

In this audio version of my 6-minute strategy training gets super concrete. You’ll learn the key metrics that you should be tracking and measuring to help you keep your finger on the pulse of your organization’s financial health.

Wednesday, August 16th

Focus on Growth: True Cost Budgeting As The Foundation of Sustainability

Whatever your vision for growth and increased impact, there are costs associated with it. This training will walk through how to think about your budget not just as a financial document, but as a storytelling tool to actually help you grow.

Thursday, August 17th

How To Get Your Finance House In Order, with Germeen Guillaume

In this episode, we delve into the crucial aspect of “knowing your numbers” in nonprofit leadership. Germeen, founder of Virtual Accounting Group, combines accounting expertise with a passion for social impact, discussing moving beyond a bookkeeper, hiring considerations, and the crucial link between fundraising and financial infrastructure.

What Listeners Will Learn:

  1. Essential finance metrics for monitoring your nonprofit’s financial health.
  2. True cost budgeting techniques to support sustainable organizational growth.
  3. Insights on transitioning from basic bookkeeping to comprehensive financial infrastructure.

Key Takeaways:

  • Financial health is crucial for nonprofit sustainability and growth.
  • Key finance metrics provide valuable insights into organizational stability.
  • True cost budgeting is a narrative tool that aids in strategic planning and resource allocation.
  • Understanding the transition from basic bookkeeping to advanced financial management is vital.
  • The relationship between fundraising and financial infrastructure is often underappreciated but critical.

Step-by-Step Process:

  1. Learn Finance Metrics: Understand and track key financial metrics relevant to your nonprofit.
  2. Implement True Cost Budgeting: Use budgeting as a storytelling tool, detailing the costs associated with your vision for growth.
  3. Build Financial Infrastructure: Recognize when to move beyond basic bookkeeping and how to develop a robust financial infrastructure.

Relevant Resources Mentioned

Connect With Brooke:

Connect with Brooke Richie Babbage at www.brookerichiebabbage.com

If you enjoyed listening then please take a second to rate the show on iTunes. Every podcaster will tell you that iTunes reviews drive listeners to our shows so please let me know what you thought and make sure you subscribe using your favorite podcast player. It means a lot to me and to the guests.

Rate, Review, & Follow on Apple Podcasts

“This podcast is heaven-sent. Grateful!!”  <– If that sounds like you, please consider rating and reviewing my show! This helps me support more people — just like you — build and lead an organization that brings them joy. Click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode!

Also, if you haven’t done so already, I invite you to share the podcast with friends! You can share this link: richiebabbage.com/nonprofitmastermindpodcast

Other Ways To Enjoy This Podcast

Check us out on YouTube!