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The recession and its aftermath profoundly affected nonprofits. With scarcer resources, organizations were living closer to the bone and the margin for error was thinner than ever. Tight and transparent financial management was a necessity, and in its absence a handful of current and former SVP Investees merged or closed their doors.
Some of these groups had been in their communities for 30 years. It was heartbreaking. It was also painfully evident that SVP’s financial capacity building work was insufficient. We weren’t asking the right questions and we didn’t have the tools to provide the level of support our Investees needed.
“If we hold ourselves accountable to being great capacity builders, the questions become – What are we missing? What can we do better?” says Mike Quinn, Director of Community Investment at SVP.
The result, a financial health assessment that provides executive directors a way of viewing their financial history, gauging board understanding and generating in-depth reporting on the organization’s cash flow and restricted vs. unrestricted revenue.