Wednesday, October 7, 2020

Nonprofit Ratios: Nine Incentives To Manage Change

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WELCOME TO LENOREINC.BLOGSPOT.COM!
 
Thank you for joining us today! 

TODAY’S BLOG: 10/07/20

 

Consider this quote:

"Without change, there is no innovation, creativity, or incentive for improvement. Those who initiate change will have a better opportunity to manage the change that is inevitable" --- William Pollard (priest turned physicist)

SOURCE: http//www.brainyquote.com/authors/william-pollard-quotes


Without a doubt, change leads to innovation, creativity, and incentive for improvement. But where do we start before any change can happen?

We start with indicators.

What do we mean by indicators?

Ratios. Analysis figures that tell us where we are and based on goals we have set, they allow us to compare results with where we want to be. 

Nonprofit organizations are required to report their annual figures to the public by means of the IRS Form 990 and other forms. In tomorrow's brief live discussion, we will be reviewing Charity: Water's 990 against nine ratios meant for analyzing the health of a nonprofit organization.

The objective of this discussion would be to assess benchmarks ratios in the nonprofit world with how Charity: Water measures up against them. In so doing, we will be able to determine the value of the information that accountants are responsible for, and if such information is helpful to others and presents a clear picture of what is really happening within. 

What is the biggest question to answer?

The biggest question to answer is, does the information within the financials reflect the reality of the nonprofit without. In other words, the nine analysis figures we will discuss, that accountants are responsible for preparing and producing, are they a true reflection of the best use of the resources of the nonprofit?

We will find out. Stay tuned for tomorrow's live discussion. Below is a sneak peek of the mind map for tomorrow's discussion.


How can we help you today?

These figures can prove invaluable in assessing the accuracy of records, setting standards, and meeting goals. 

To our health and wellness nonprofit organizations, we are here to help you know your numbers and to know them well. To have the ability to review financial records against common ratios can be the way for your organization to grow, and to grow abundantly.

What accounting applications and platforms can we help your nonprofit organization with?

We are considering other accounting application platforms, like Microsoft Dynamics 365 for nonprofits. In the meantime, Intuit QuickBooks has been and continues to be a reliable, relevant, cloud-based suite of accounting applications that solve the problem of information readiness and the ease of financial statement preparation and presentation.

We know that change can be a welcome opportunity for innovation, creativity, and inspiration for dramatic improvement. Download the full list of the services on our website that we look forward to offering your nonprofit enterprise. We also have FREE resources available on our website to assist you right away. 

We are here to make the transition to change easier and smoother for: Your NFP Ship. Your NFP Compass. Your NFP Path w/Lenore, Inc.

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