Financial Fridays Fun{damentals}

Financial Management Webinar Series UNO PROFESSIONAL PROGRAMS

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REGISTER HERE | PAYMENT TBD/INVOICES

OBJECTIVE

Every nonprofit has a mission, but how can nonprofits afford to fulfill the organization mission? Since no organization can fulfill their missions all at once, planning becomes very important. During the planning process, nonprofit leaders need to be able to show how their programs relate to the organization missions, and how their objectives closely relate to their resources.
In order to plan more effectively, nonprofit leaders must be aware of their financial pictures and be able to review their financial reports to understand how organization past income and expenses dynamics influence its present and future. These webinar series will cover the fundamentals of nonprofit finance, including how to read income statements and the balance sheets within the audited financial report. This webinar will also examine some financial indicator analysis to help nonprofit leaders gain better understanding of the organization revenues and expenditure structures, and how assets, liabilities, and net assets influence some key budget goals for the organization.
Lastly, the webinar series provides an overall picture of nonprofit financial capacity from two rounds of surveys in 2020 and 2022. Come and find out how your survey responses in related to other organizations.

INSTRUCTOR DR. HOANG:

Trang Hoang is an Assistant Professor in the School of Public Administration, University of Nebraska at Omaha, where she teaches graduate-level courses in public and nonprofit budgeting, human resources management, and research methods. Her research focuses on public pension, state and local governmental budgeting and financial management, nonprofit financial management, and risk management. Dr. Hoang’s publications can be found in leading journals, including Public Administration Review, Journal of Public Administration Research and Theory, Public Budgeting & Finance, Public Finance Review, and Nonprofit Management & Leadership. Dr. Hoang received a Ph.D. degree in Public and Nonprofit Management from the University of Texas at Dallas. Prior to returning to graduate school, Dr. Hoang worked as HR personnel and program support staff in the public and nonprofit organizations. 

DETAILS:

Spring, 2023. March 31, April 7, April 14, April 21. Webinar Format. Cost: $25/1; $79 for all 4. Scheduled on Fridays, from 9.30-10.30 AM. Sponsored by the Professional Programs Department of UNO’s School of Public Administration.

WEEK 1 | MARCH 31

Organizations are not success by accident. It takes careful planning and management to excel.
What are the organization’s priorities? How will it achieve those goals? How does the organization allocate its resources to translate its intention into results?
A successful organization plans for those questions rather than waiting for it to happen. This webinar provides basic understanding on the role of budget as planning documents and fundamental accounting requirements for nonprofit.

•Overview of nonprofit budgeting and financial management •Fundamental of Accounting Equation
•Nonprofit Revenues and Expenses •More details on Assets (long term and short term)
More details on Liabilities (long term and short term) •Net Assets
•Accounting and Financial Report for nonprofit with focus on FASB 116 and 117 on Fund Accounting

WEEK 2 | APRIL 7

Nonprofit leaders and board members should understand how to review their organization’s financial reports and be aware of their financial picture from an outside perspective. This week’s webinar/workshop covers some fundamentals to understand four financial statements within a nonprofit’s consolidated financial reports and steps to read nonprofit financial reports.

•Statement of Financial Position (aka Balance Sheet) •Statement of Activities (aka Income Statement)
•Statement of Cashflow •Statement of Functional Expenses
•Add example on nonprofit’s consolidated financial reports. •Four types of Financial Statement & reading/finding information

WEEK 3 | APRIL 14

Financial analysis enables nonprofit leaders and board members to understand the current financial condition of the organization and the extent to which the nonprofit is using its resources wisely to achieve its mission. Financial analysis is the process of using the information provided by the financial statement to calculate financial ratios and other measures of nonprofit financial health. This week’s webinar covers some main measures of nonprofit’s financial analysis and the practice of how to interpret those financial ratios.

•Liquidity •Solvency •Efficiency •Profitability
•Revenue Diversification •Program services and expenses ratio
•Discussion on the pros/cons of revenue diversification and program expense ratio
•Conducting Financial Ratio Analysis (handout provided on how the ratios are calculated)

WEEK 4 | APRIL 21

Nonprofits need to use their resources in ways that are efficient and effective so that the resources can be used to fulfill their missions. Should nonprofit have operating surplus or reserves? Should nonprofit minimize their overhead costs? Does that financial information affect nonprofit’s ability to attract donors? This webinar covers some “myth-busters” series of nonprofit finance and provide some overview on nonprofit financial conditions and responses to the financial and management interruption caused by the pandemic.
•Some myths on nonprofit financial management •Should nonprofit operate like a business?
•Operating surplus •Operating reserves
•Some overall findings of the survey of nonprofit capacity •Organization’s ability to maintain cash-flow and reserves
•Overall evaluation of their current financial conditions
•Oraganization’s ability to ensure employment benefits for employees