Financial Planning for Non-profits: The Unwritten Plan
Bruce Sekanick, FAIA
President of the Board of Trustees, The AIA Ohio Foundation
As we enter October, most of us are looking at our firms’ goals and expectations for the year and trying to figure out how we can either play catch-up or spend that extra cash that we somehow, surprisingly, earned. The same can be said for non-profit entities, like AIA components, who seek to advance and fulfill their mission. While firms rely on past clients and new work generated through their clients, non-profits tend to require a completely different approach. In an article published by the Nonprofit Consulting Group, the author discusses the need to connect the forward-looking elements of a strategic plan with the development of a financial plan. Like a strategic plan, the financial plan provides goals that allow the organization to be not only successful, but to grow in good times, and weather the bad times.