Financial Management

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Project Proposal Writing - RFP

A Project Proposal is a document which you present to potential sponsors to receive funding or get your project approved.

We created this toolkit to simplify the process of creating a project proposal. We know that it can be hard to find templates, samples and guides all on one page. 

If you are familiar with proposals please scroll to the templates< and samples<. If you’re not, please take a look at the About Project Proposals<, Video Guides< and Further Reading< sections to find out more information.

We have compiled a few templates< in this toolkit to help you chose the most appropriate one for your business. For instance, you’ll find templates and generic business proposals, as well as NGO, grant, university and freelance project proposals.
 

Financial Management of Not-for-Profit Organizations

This resource draws analogy to not for profits and the similarities it has to the commercial sector

Used broadly to define a group or cluster of agencies that share some commonality. Here ‘the sector’ refers to community based agencies that serve immigrants and refugees in Ontario. Other relevant sectors include the broader non‐profit sector (sometimes referred to as the voluntary sector), and the community social services sector.

. Budgeting and cash management

Includes an organization’s Executive Director and managers, but not staff or supervisors. See also definition for “staff.”

as two areas of financial management that is extremely important exercises for not for profit organization. The resource provides steps for preparing a budget, capital budget (p. 4 –P. 5)   Asset Management (p. 6) the use of fund accounting (p. 7)

Blackbaud (2015) Financial Management of Not-for-Profit Organizations

Questions to Ask About Balance Sheet and Income Statement (Balance Sheet)

This resource is a balance sheet with questions to ask about when reviewing your organizations financial statement. These questions form the basis for analysing your organizations finances. 

Financial Fitness 101 Building a Financially Healthy Not-for-Profit Organization

Financial Fitness 101 Building a Financially Healthy Not-for-Profit Organization

This resource offers some basic tools of financial management

Includes an organization’s Executive Director and managers, but not staff or supervisors. See also definition for “staff.”

. The document takes you through an introduction to some of the key considerations which apply to effectively run organizations. Whether your need is to build a more financially healthy organization in order to create stronger plans to deliver on your core mission, or to access credit facilities to level out irregular revenue flows, a broader understanding of financial matters can assist. The section on budgeting  provide some approaches and support for maximizing effectiveness in using this important planning tool.

Marus, R. (2007) Financial Fitness 101 Building a Financially Healthy Not-for-Profit Organization

How Non-profit Organizations Manage Risk

The purpose of this document is to identify the kinds of decisions where non-profit organizations need to manage their risks in a strategic fashion, to review what is known about how they approach these decisions, and to offer a conceptual framework that non-profits can use to develop a more sophisticated and effective approach to their risk-management

Includes an organization’s Executive Director and managers, but not staff or supervisors. See also definition for “staff.”

decisions.

Dennis R. Young. How Non-profit Organizations Manage Risk

Non-profit Financial Planning Made Easy

Financial planning contributes significantly to the success of a non-profit organization and allows it to better accomplish its mission. Planning tasks are challenging and too often are overlooked. In this time of shrinking governmental support for non-profit organizations, astute use of available resources following a well - developed financial plan may be the key to a
non-profit’ s survival. The concepts and techniques presented in this book can simplify the
efforts of financial managers and boardYour board of directors provides governance to your organization. members to be fiscally responsible, or accountable, to the organization ’ s private and governmental funders, to its clients

This term is used here to refer to the service-users that organizations work for and with and provide services to. We have chosen to use clients because of its common currency and ease of use, while acknowledging that it may unintentionally connote a particular ideology of patronage or a purely financial transactional relationships between organizations and the people they serve.

, to the community

The broad group of people who are stakeholders of an organization. Extending beyond the people that enter our buildings and use our services, an organization’s community may include cultural groups, sectoral partners, and other groups of people joined together by common identity, geography, and other bonds. Often where we use ‘community’ the word is actually short for multiple communities.

in which it operates, and to the society benefiting from its work.
 
Jody Blazek. (2008) Non-profit Financial Planning Made Easy

Financial Management of Not-for-Profit Organizations

This financial management

Includes an organization’s Executive Director and managers, but not staff or supervisors. See also definition for “staff.”

for non-profit organization was created by Blackbaud. It states that the budgeting process and the ongoing management of cash and other assets are two critical areas of focus for not-for-profit financial managers. This focus is dictated by the overarching stewardship obligations of a charitable organization that receives money from the public to meet a perceived societal need.
 
 Financial Management of Not-for-Profit Organizations Blackbaud October 2011

GST/HST Information for Non-Profit Organizations

This guide was collected from the Canada Revenue Agency. It explains how the goods and services tax/harmonized sales tax (GST/HST) applies to non-profit organizations. It explains registration requirements, exemptions, rebates, and simplified methods of accounting that may apply to your organization.
 
Canada Revenue Agency July 2010
 

Developing a Financing Strategy

This resource, developed by Civicus, is a toolkit that provides an overview for organizations looking to develop an effective financing strategy. Effective financing strategies have emerged in response to a number of emerging issues, but namely new contextual realities (including funder/donor relationships with agencies), financial sustainability, and financial autonomy (pp. 3-7). Before one develops an effective financial strategy, organizations must ensure that a number of pre-requisites are in place. Among these include: an organization strategy and budget, financial systems, public image, and value clarity (pp. 9-19). The toolkit explores developing financial strategies through earned income, which include: fee for services (pp. 24-25), sales (pp. 26-28). Lastly, an example of a financing strategy document is included, which serves as a great template for agencies (pp. 50-54) as well as a glossary of terms (p 56).

Shaprio, J; Civicus. (2011) Developing a Financing Strategy. 1-57. Washington D.C, United States.

Budgeting Part 2 of 2

This resource, developed by Civicus, offers guidelines and best practices

Best Practices / Good Practices / Promising Practices

Ways of working that are acknowledged as effective and deserving of emulation.

for developing and monitoring an organizational budget. It is divided into two parts; Part 1 provides a general overview along with more in-depth analysis and understanding of the various intricacies of developing and monitoring a budget and Part 2 are appendices that are examples of different types of budgets (i.e. yearly, monthly, variance statements etc.). Part 1 begins by illustrating various categories of estimating costs along with various frameworks for mapping out these costs (pp. 8-9). Different kinds of budgets are also explored including: a survival budget, a guaranteed budget, and an optimal budget (p 15). Lastly, important information regarding monitoring against a set budget is explored along with monitoring cash flow, an excellent practice that can be built into reporting schemes (pp. 26-28).

Janet Shapiro. (2001). Budgeting Parts 1 and 2. 1-46. Johannesburg, South Africa. 

 

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