Nonprofits Count
From this issue
Our mission is to build financially healthy nonprofits, and now more than ever, we want to offer sound and practical advice to help nonprofits build sustainable futures. Last issue, we wrote about the anxiety around the economy and shared some ideas on how organizations can manage and adapt during these uncertain times. Sound and practical does not mean pretending we can predict the impact of the current economy. Right now, the best advice we can offer to nonprofits is to protect your assets.
We mean assets in the broadest sense. As a financial management organization, we encourage nonprofits to carefully manage their cash flow. However, there are assets that do not appear on your balance sheet - your organization's reputation. Safeguard that important, and intangible, asset above all else. The best way to do that is to focus on your mission and doing your work as effectively as possible. Tell your story, communicate with your donors, control what you can control, and deliver on your mission.
To help you navigate this unpredictable time, we have posted a collection of useful articles and resources to our facebook page. If you are interested in understanding how we got here, invest $1 for the podcast of This American Life’s radio show on the topic, “The Giant Pool of Money” from May 2008. Jointly produced with NPR News, the 60 minute report explains how the mortgage business changed with subprime loans, new capital sources, and new, indecipherable investments. It's a useful and illuminating overview.
Continue reading the October 2008 issue of Nonprofits Count.