By: Melissa Lagowski CEO/Founder/Queen Bee Big Buzz Idea Group Does your organization have a reserve fund? According to an annual survey conducted by the National Council of Nonprofits, less than 25% of the survey participants had six months of reserves. The majority had less than three months of operating reserves, and 10% had less than 30 days cash on hand. Many nonprofit organizations have budgets that have them eking through the year with a minimal surplus or worse yet, a financial loss. Why any board member would disregard fiduciary responsibilities and approve a negative budget is beyond me, but that...
By: Melissa Lagowski Founder, CEO and Queen Bee, Big Buzz Idea Group “Insanity: Doing the same thing over and over again and expecting different results.” ~Albert Einstein Do you feel like your organization is in a rut? Does it seem like no matter what you do, your budget hasn’t seen growth and programs don’t expand as you had anticipated? Are you still struggling with staffing shortages or failing to fill those seats on the Board with engaged leaders? It is not uncommon for nonprofit organizations to rollover their same plan from year to year, but the reality is that if you...
By: Melissa Lagowski CEO, Founder and Queen Bee, Big Buzz Idea Group It’s that time of year when many clients are setting budgets for the year ahead. A budget is a crucial part of planning and execution. But all too often in the nonprofit world, budgets are simply carried over without questioning individual line items or evaluating partnerships. In taking a closer look and applying a forward-thinking, strategic mindset, we’ve helped our clients find areas where their organizations can trim excess spending and make those dollars work harder. Cost savings and more efficient, effective spending—that’s what we all want, right?...
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