GuideStar Demo (02/26/13) - Financial SCAN for Nonprofits
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description
Are you able to tell your financial story comprehensively and compellingly? Do you have the information you need to analyze your organization's financial health—and a clear, easy-to-understand way to convey this information to your board, employees, funders, and other supporters? GuideStar has partnered with Nonprofit Finance Fund (NFF) to develop Financial SCAN, a sophisticated analysis that helps nonprofits—and their supporters and advisors—incorporate financial health insights into decisions that advance your organization's program goals and mission success. Join Peter Kramer of Nonprofit Finance Fund to learn more about how Financial SCAN can help your organization. Presenters: Peter Kramer, Senior Associate, National Consulting Services, Nonprofit Finance Fund, and Usma Ziard, Senior Marketing Director, GuideStar
Transcript of GuideStar Demo (02/26/13) - Financial SCAN for Nonprofits
Effective Solutions
Sound Financial Health
Strong Organizations
Quality Programs
We believe that financial health supports impact
Some common financial “pain points” across the sector…
It’s difficult to know what metrics to focus on for assessing financial health
Financial data collection, reporting, and analysis is time and skills intensive
Communicating a financial situation and resource needs can be challenging
Financial SCAN At a Glance
What: Data platform for assessing nonprofit financial health and fostering dialogue among all stakeholders involved in making social impact
Who: Private and public grantmakers/donors, nonprofit organizations, philanthropic advisors, consultants and media
How: Private and public grantmakers/donors, nonprofit organizations, philanthropic advisors, consultants and media
WHAT
Data platform for assessing nonprofit financial health, decision making, and informing grantmaker-grantee dialogue
WHO
Nonprofit organizations, private and public grantmakers, individual donors, philanthropic advisors, and consultants
HOW
Draws data directly and automatically from IRS Forms 990,* presenting complex information in an easy-to-analyze and communicate format (313K orgs)
*Note: Financial SCAN v. 1.0 does not include data from Form 990 EZ
What’s in a Financial SCAN?
Organizational Dashboard: Five years of key financial trends and ratios
Graphs & Explanatory Text: More detailed overview of an organization’s: Expenses Revenue Profitability Balance Sheet Liquidity
Peer Comparison Dashboard: Comparison with up to five peer nonprofits you select
What are nonprofit users saying?
Presents numbers in an accessible, holistic way along with definitions and text
Helpful for communicating recent financial past with the Board and funders
Allows for clear and comprehensive comparison with peer organizations
Generating the report is quick and easy
Looking at trends and benchmarking peers can help us plan for the future
“My organization never thought about strategically and proactively planning its financial future until I presented them with Financial SCAN.
Executive Director, Diversified Community Services,
Philadelphia, PA
How are nonprofits using Financial SCAN?
One nonprofit leader says they lean on the report’s graphs to help communicate past trends They already plan to make changes that will result in a better cash reserve and cashflow management process
Regularly used by: Executive Director, Development Director, and Board Finance and Executive
Committees
Uses include: Reference for planning, Communicating financial
needs to external audiences, Board review
Financial SCAN Demonstration
nonprofitfinancefund.org 8
Thank you! Peter Kramer
Senior Associate, Consulting Services Nonprofit Finance Fund
617-204-9772 [email protected]
To learn more:
www.guidestar.org/financialSCAN
