Jitasa Nonprofit Blog

Executive Director's Guide to Financial Leadership

Good article from Kate Barr and Jeanne Bell of CompassPoint on Financial Leadership. In particular, we like the section where they say:

Invest in contract consultants. So how does an organization with limited resources adequately attend to all three finance functions? Increasingly, we are seeing executives pair contract consultants with staff in the finance function....... This way, the executive has a strategic financial partner without creating a fixed staffing cost that she can't afford. Board members, including the treasurer, have a role that is distinct from the staff finance team. The executive needs an uncomplicated relationship to her finance team so that she can direct them in developing the analysis and reporting she needs as the organization's financial leader.

Outsourcing can be a key way to develop capacity around your nonprofits finances. It is a trend we see growing in increasing acceptance.

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