When your day-to-day consists mostly of striving for the betterment of others, looking out for your organization’s best interests can get lost in the shuffle. The unique thing about your work as a non-profit organization is that keeping your company in the black is often the furthest thing from your mind—you have philanthropic aims, and your energy is likely put toward more vital concerns like compassion, humanity, and making a real change in the world.
The truth of the matter, however, is that if you don’t keep your team up and running, there won’t be a way to do all the good that you do. Fiscal security may take a back seat to the passion you feel for your cause, but not making it a central focus could leave your organization vulnerable. Not a numbers person? Not a problem. There’s a financial professional for that.
Non-profit organizations are often at the mercy of donors and grants to make ends meet, and that can put balancing the books on shaky ground. Protecting your finances can help you achieve your goals with more certainty and hiring a designated number cruncher can take some of the heat off of you. Take a look at our list of services that financial professionals can afford you, and free yourself up to take on the big picture.
What Could a Financial Professional Offer Your Charity?
- Financial planning – Vague as it may sound, having a financial plan is critical to the success of any enterprise, even if their main goal isn’t raking in the big bucks. Financial professionals can examine your non-profit’s objectives, tell you how much money you’ll need to achieve them, and point out any areas where you may be spending more than you should. Cutting costs is a sound game plan for longevity and could lead to freeing up funds to pour back into your charitable efforts.
- Recommendations – When you think about business networking, you might think of power brunches and business cards used by companies to drive sales. What about networking your non-profit? Financial professionals can point other clients in the direction of your charity, making them aware of your mission and noting that their donation may be able to be written off their taxes at the end of the year. Everybody wins!
- Donation security – Do you have a solid plan for the use of each charitable contribution that comes your way? If not, a financial professional could ease the burden, factoring each donation received into your overall financial plan. The money you receive is investment in your organization’s vision! Don’t just throw it all in the pot—make sure every dollar you get is working to help you reach your goals.
- Taxes – Let’s face it: taxes are complicated. If the average person struggles to understand their deductions and payments, you are undoubtedly up against it when it comes to tax season. Sure, you could try to make sense of it all on your own, but when you’re running a non-profit, time is of the essence. Why not let a financial professional work with your tax professional to make sense of your tax dollars and cents?
- Estate Planning – Another networking perk to hiring a finance pro is that their clients often utilize their estate planning services, meaning they know exactly where their assets are going to go when they pass. If one of their clients find that your charity is one that they truly love, you could make it into their final arrangements, but that can’t happen if they’re unaware of your efforts. Work with a financial professional and they may be able to bring donors to your door.
- Insurance – Your purpose is about more than the almighty dollar, but the fact is, you still have to protect the funds you have as well as the folks that work for you. Insurance is as important to your organization as it is to any other company, but your needs are far more individual. Do you know that you’re covered in the event that someone slips and falls on your property? Do you understand liability insurance and how it’s used? If not, it’s time to send in the financial pros to help you stay secure in the event that disaster strikes.
When seeking out the right financial professional for you, one great way to identify a solid partnership is by finding one that shares your vision. After all, they’re people too, and getting them excited about your cause can make them all the more committed to your success. Call them up, start the discussion, and begin laying the groundwork for a more secure future.