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GuideStar Demo (02/26/13) - Financial SCAN for Nonprofits
 

GuideStar Demo (02/26/13) - Financial SCAN for Nonprofits

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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 ...

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

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    GuideStar Demo (02/26/13) - Financial SCAN for Nonprofits GuideStar Demo (02/26/13) - Financial SCAN for Nonprofits Presentation Transcript

    • We believe that financial healthsupports impact Sound Financial Health Strong Organizations Quality Programs Effective Solutions
    • 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 Data platform for assessing nonprofit financial health and fostering dialogue among all stakeholders WHAT health, decision making, and informing involved in making social impact dialogue grantmaker-grantee Who: Private and public grantmakers/donors, Nonprofit organizations, private and public nonprofit organizations, philanthropic advisors, WHO grantmakers, individual donors, philanthropic consultants and media and consultants advisors, How: Private and public grantmakers/donors, Draws data directly and automatically from IRS Forms 990,* presenting complex nonprofit organizations, philanthropic advisors, HOW information in an easy-to-analyze and consultants and media 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: Fiveyears of key financial trends and ratiosGraphs & Explanatory Text: Moredetailed overview of an organization’s:  Expenses  Revenue  Profitability  Balance Sheet  LiquidityPeer Comparison Dashboard:Comparison with up to five peernonprofits you select
    • What are nonprofit users saying? Presents numbers in an accessible, holistic “My organization way along with definitions and text never thought about strategically and proactively planning Helpful for communicating recent financial its financial future past with the Board and funders until I presented them with Financial SCAN. Executive Director, Allows for clear and comprehensive Diversified Community Services, comparison with peer organizations Philadelphia, PA Generating the report is quick and easy Looking at trends and benchmarking peers can help us plan for the future
    • How are nonprofits using FinancialSCAN?One nonprofit leader says they lean on the report’sgraphs to help communicate past trends Uses include: Regularly used by: Reference for planning,  Executive Director, Communicating financial  Development Director, and needs to external audiences,  Board Finance and Executive Board review CommitteesThey already plan to make changes that will result in abetter cash reserve and cashflow management process
    • Financial SCAN Demonstration
    • Thank you! Peter Kramer Senior Associate, Consulting Services Nonprofit Finance Fund 617-204-9772 peter.kramer@nffusa.orgTo learn more:www.guidestar.org/financialSCANnonprofitfinancefund.org 8