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CITI NONPROFIT DAY – SECURING YOUR ORGANIZATION’S FUTURE: IT’S MORE THAN MONEY 
In Chicago on October 28th, FMAs Managing Director, Hilda H. Polanco, CPA, addressed the Citi Nonprofit Day conference entitled Securing your organization’s future: It’s more than Money. The event was presented by Citi Illinois in partnership with Donors Forum and the Alliance for Nonprofit Management. Hilda shared with the Chicago area leaders some FMA lessons learned related to how nonprofits are adapting to the “new normal.” Hilda presented the six key management principles the FMA team sees being applied by nonprofits as they work hard to survive the economic storms while the demand for their services increases. Here’s the ‘bulleted’ version. Performance measurement guides organizational practices - data is managed strategically and dashboards are used to track key performance indicators Annual budgets are set from the lens of the organization’s balance sheet. Re-evaluating funding relationships – seek to cover full cost of delivering programs. Create an environment of Team Decision Making – all senior management, across the agency (beyond the ED and CFO!) engage in number analysis and take greater responsibility for the strategic direction of the organization Ongoing assessment of business processes – maximizing IT and automating toward maximum efficiency, including adapting a ‘re-engineering’ lens to current activities finding new ways of operating that improves client services and reduces costs Goal setting – more deeply understanding the strategic nature of time, and focusing actions in more strategic areas To view Hilda’s presentation, please click here. |
CitiNonprofitDay2010
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