Every year, Impact100 Philadelphia members owe a debt of gratitude to our Financial Review Panel. As much as our Focus Area Committee team members dig, probe, question, and analyze on our site visits, the examination by our specially trained Financial Review Panelists is fundamental to Impact100 Philadelphia’s fiduciary responsibility to our members: to award grants to nonprofits who are viable, growing, worthy recipients of our funds. Our “vet” is both qualitative and quantitative. For every site visit, every explanation of a creative initiative that meets a critical need in our community, there is an Impact100 Philadelphia member reviewing the balance sheet to make sure the organizations we consider pass muster financially.
LaSalle University’s Laura Otten explains why it is important to understand nonprofits, their mission, board, and finances from top to bottom. Click
to read more.