Nonprofit organizations face extraordinary challenges in a constantly evolving business world. Prioritizing planning for financial resiliency is needed now more than ever to ensure continuation of service delivery. Planning will help ease concerns of uncertainties for the future. So, how can leaders support financial resiliency through planning?

 
Why should you plan?

Planning for financial resiliency is the act of thinking ahead to reach a desired financial goal. It will produce stability and adaptability during times of change or crisis while also preparing the nonprofit for periods of recovery. Planning is an active engagement of adapting and learning while supporting the mission of the nonprofit, which leadership can use to help guide decisions in the future. Developing a plan and clearly communicating how that plan supports the vision of the organization is necessary for nonprofit leadership to build resiliency.

Where to start?

Nonprofit leaders should focus on building financial reserves as well as implement strategic and contingency planning, while clearly defining how these strategies support their organization’s mission. Communication is key to developing and implementing these tools for financial resiliency. Start by analyzing the specific needs of the nonprofit, what are the goals, values, and intentions? How can implementing a strategic plan support the mission of the nonprofit and build financial…

Women in America have a centuries-long history of supporting charitable causes – even in a world shaped by gender inequality. Understanding the role of gender in historical philanthropic behaviors can help women reach their full potential as leaders and givers today.

The history of female philanthropists here started in parochial institutions during the colonial era, where nuns, deaconesses and women of all faiths provided charitable services to marginalized communities, according to the Gale’s Women’s Studies Archive. These early efforts to aid the poor and sick inspired the creation of contemporary religious groups like the Hospital Sisters Health System, Sisters of Mercy and Sisters of Charity.  

Women were pioneer givers of food, shelter, clothing, health care and education because they immediately responded to social needs. 

An example is when Ann Radcliffe financially supported the first scholarship fund at Harvard University in the 1600s.

In 1809, Black female members of the African Union Society created the African Female Benevolent society in Rhode Island to provide clothing and education to Black children, as governmental resources were controlled by white…

One major dilemma that both the nonprofit and private sectors are currently facing is retaining qualified staff. Without qualified and passionate staff, the organization will not be as productive or successful in carrying out its mission.

Over 80% of nonprofit organizations do not have a formal retention policy in place. This leads to high turnover rates, low morale among staff, and a loss of knowledge in organizational operations. Turnover is costly for organizations. Nonprofit leaders must begin looking at what motivates employees and how to satisfy their needs to improve retention rates by creating formal retention policies. Here are four things to do to keep nonprofit staff motivated at work. 

1. Find what motivates staff: Measure current employee retention to gain a benchmark. Next, start gathering information on what motivates staff. This can be done in a variety of ways such as conversing in a group setting as a team, in 1-on-1 meetings with supervisors, or through an anonymous survey. It is important for an organization to know what motivates their staff when they are developing their retention strategies. This will help employees feel heard and encouraged.
2. Exit interviews: Another way to see what areas matter most to employees is to examine why previous employees have left the organization. Through exit interviews, you can see what areas need to be improved on. To be…

Attracting and retaining talented leaders is key to the success of a nonprofit. Without a dedicated workforce, the mission falters and can eventually fail. To prevent this, organizations must evaluate the benefits they offer incoming leaders and the actions they take to maintain a dedicated workforce.

It is important to initially identify what individuals have the power, traits, and characteristics necessary to influence a group of individuals to achieve a common goal. The army identifies leaders as those who demonstrate values of loyalty, duty, respect, selfless service, honor, integrity and personal courage. While leaders are important in any sector, they are critical in providing stability to further a nonprofit’s mission and motivate staff to stay.

Eventually, the pandemic and “Great Resignation” will be a distant memory. While the current labor environment has millions of jobs available, millions of Americans often quit their current positions in search of something more fulfilling. The NonProfit Times, with feedback regarding voluntary turnover in 2021, uncovered six key reasons why nonprofit organizations…