Nicole Frisina, Manager at YPTC, wraps our arms around the financial realities nonprofits face. With a creative spin on Valentine’s Day, this valuable conversation explores the “red roses” of financial health and the “red flags” that can derail nonprofit organizations. Nicole emphasizes a crucial but often overlooked truth: finance teams are integral to a nonprofit’s success. Far from being mere number crunchers, they serve as strategic partners who can make or break an organization’s long-term sustainability. From the importance of segregation of duties to monthly financial reporting and reserve planning, this episode, hosted by Julia Patrick, is packed with actionable insights for nonprofit leaders.

One of the biggest takeaways? Nonprofits must diversify revenue streams to safeguard their future. Another vital part of their discussion is the power of financial transparency and collaboration. Development and finance teams must work hand-in-hand, ensuring accurate financial statements that allow for proactive decision-making. Nicole points to how regular financial reporting and documented policies serve as the foundation for long-term financial health.

Love & Risk: The Finance Secrets Every Nonprofit Must Know! from American Nonprofit Academy on Vimeo