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Training

T. Rowe Price Foundation: Financial Leadership for Nonprofit Leaders

Welcome!

The T. Rowe Price Foundation is partnering with Spectrum Nonprofit Services to build the financial leadership of nonprofits. Through this series of webinars, we will equip leaders with the guidance and templates to integrate finances into all of the organization’s processes in a practical and empowering manner.

The Sustainability Mindset

October 26, 2022; 10-11:30 ET

There is a deep interconnectedness between an organization’s ability to be financially viable and its ability to accomplish its mission. This webinar explores this intersection of impact and finance in understanding an organization’s business model. We’ll introduce you to the matrix map, a visual depiction of the business model, and discuss how to use it to increase understanding and inclusion throughout your organization. Beyond just a picture though, the matrix map offers strategic imperatives to strengthen your organization’s business model and increase sustainability.

Timestamps

Welcome & Introduction: 00:00; Setting Context: 02:09; Defining Sustainability: 14:11; The Matrix Map: 30:33; Articulating Impact: 35:20; Defining Programs: 45:11; Assess Mission Impact: 47:50; Determine Profitability: 58:00; Plotting & Analyzing the Map: 1:00:40; Discussion: 1:13:40; Parting Thoughts: 1:21:48

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Revenue Strategy

October 19, 2022; 10-11:30 ET

We’ve all heard that the more revenue streams an organization has, the greater its financially sustainability. However, research shows the opposite! This webinar seeks to end this myth and focus your discussions on finding the “right” revenue strategy for your organization. We’ll talk about the elements of a sustainable revenue strategy by tying your revenue back to the organization’s impact. Drawing on our work in The Sustainability Mindset and the revenue theory of Dennis Young in his work, Financing Nonprofits, we’ll provide the tools and questions for you to analyze your revenue streams and make adjustments.

Timestamps

Welcome & Introduction: 00:00; Introduction to Revenue Strategy: 05:15; The Myth of Revenue Diversification: 17:16; Characteristics of Sustainable Revenue – Reliability: 30:05; Characteristics of Sustainable Revenue – Flexibility: 34:44; Aligning Revenue & Impact: 39:06; Revenue Capacities: 53:13; Investing in Capacities: 1:04:30; Next Steps: 1:08:40

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Telling Your Financial Story: Dashboard Driving

September 28, 2022; 10-11:30 ET

Nonprofit boards and senior management are bombarded with financial and programmatic reporting that they may or may not understand and are left to analyze on their own. This webinar cuts through the clutter with a clear, visual dashboard that will engage users and focus discussions on items requiring attention. By the end of this webinar, you will understand the power of dashboard reporting, be able to determine the metrics that are right for your organization and implement a process for compiling your organizational dashboard.

Timestamps

Welcome & Introduction: 00:00; Communicating to Different Audiences: 07:25; Making Sense of Financial Statements: 16:10; Financial Ratios: 33:24; Dashboard Purpose & Function Overview: 36:00; Preparing A Dashboard: 42:49; Identifying Key Metrics: 49:00; Tracking Metrics & Format: 1:05:10; Using the Dashboard: 1:15:00; Recap & Questions: 1:19:48

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The Art & Science of Budgeting

September 21, 2022; 10-11:30 ET

Organizational budgets are a numerical expression of an organization’s values and program plan for the coming year and creating an inclusive culture where everyone understands the organization’s business model begins with the budgeting process. This webinar will walk you through the stages of budgeting including roles and timeline for putting together the budget. Additionally, we’ll talk through scenario planning, rolling budgets and how to think strategically about your budget while living in an ever-changing world.

Timestamps

Welcome & Introduction: 00:00; Budgeting as a Concept: 07:04; Budgeting Process: 13:00; The Budgeting Balancing Act: 22:16; Setting Goals & Context: 34:30; Estimate Costs: 41:32; Forecast Income: 48:10; Bridging the Gap: 54:38; Approve the Budget: 1:04:09; Implement & Monitor: 1:12:50; Final Questions & Next Steps: 1:19:48

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Demystifying Expenses Parts I & II

Part I:  July 12, 2022; 10-11:30 ET
Part II: July 26, 2022; 10-11:30 ET

There is rampant discussion in the nonprofit sector today about overhead rates. Determining overhead, however, starts with the mundane but important task of coding expenses. In this webinar, we will peal the onion of expenses, defining for participants the differences between direct expenses and shared or common costs. We’ll also cover cost allocation, a challenging subject for even the most experienced nonprofit professional and especially important for those agencies that receive government funding. Using a case study, we’ll walk participants through a cost allocation process splitting shared costs to programs and, eventually, to funding sources. We’ll also, in the end, allocate (1) administrative costs to demonstrate the true program costs for each program and (2) revenue to determine the profitability of each program.

Demystifying Expenses Part I: Categorizing Expenses

Timestamps

Welcome & Introduction: 00:00; Recapping the Financial Model & Questions: 03:26; Defining Profitability: 14:18; Understanding True Costs: 19:08; Specific vs Shared Expenses: 28:25; Program v Supporting Expenses: 35:30; Questions: 40:33; Categorizing Expenses: 45:30; Cost Allocation: 53:00; Final Questions & Next Steps: 1:22:10

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Demystifying Expenses Part II: Understanding True Costs

Timestamps

Welcome & Introduction: 00:00; Recap: 02:50; Cost Allocation: 15:43; Administrative Expenses: 24:00; Determining Profitability: 36:40; Allocating Revenue: 44:35; Case Studies: 53:57; Final Questions & Next Steps: 1:03:42

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Financial Leadership Parts I & II

Part I: Financial Leadership / Staffing / Internal Controls

May 24, 2022; 10-11:30 ET

Let’s be honest, no (or very few) nonprofit leaders join organizations because they enjoy accounting. But, like it or not, every Executive Director is the financial leader of their organization and senior managers and board members have an obligation to understand the financial drivers of the organization. This webinar introduces and engages participants in an in-depth discussion around the tenets of financial leadership and how leaders can embrace them. We’ll discuss how best to staff the finance function and the different roles and responsibilities between staff and board members. Lastly, we’ll end talking about accounting policies and procedures and internal controls, offered in an easy-to-implement manner.

Part II: Reading Financial Statements / Assessing Financial Health

June 7, 2022; 10-11:30 ET

To be a financial leader, one must be financially literate. This webinar is designed to increase the financial literacy of leaders by removing the jargon so they can read and understand financial statements. This session will dive deeper into understanding the differences between cash and accrual accounting, highlighting the importance of monitoring cash flow. We’ll also use the financial statements to calculate key ratios to assess both immediate and long-term financial health. In doing so, we’ll discover important trending tools such as the current ratio and quick ratio, define and highlight the importance of reserves and lead a discussion on an appropriate level for reserves.

Financial Leadership Part I: Financial Leadership, Staffing, & Internal Controls

Timestamps

Welcome & Series Introduction: 00:00; Start of Presentation: 05:38; Tenets of Financial Leadership: 13:00; Staffing: 37:27; Internal Controls: 56:25; Recap & Next Steps: 01:16:40

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Financial Leadership Part II: Reading Financial Statements & Assessing Financial Health

Timestamps

Welcome & Introduction: 00:00; Financial Literacy: 05:08; Statement of Financial Position: 11:30; Statement of Activities: 26:20; Assessing Financial Health: 42:00; Types of Accounting: 43:10; Cash Flow Projections: 57:05; Reserves: 1:08:45; Recap & Next Steps: 01:24:07

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