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How to Make Your Nonprofit Recession-Proof: Perfect Your Operating Reserves Policy

Blue Fox

First off: do you have an operating reserves policy? If so, when is the last time your leadership team reviewed the policy? If it’s been a while read on as we guide you through the process of building an operating reserves policy, and the implementation and ongoing oversight of that policy. A starting point.

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Thought Leaders Blaze Trails of Discovery and Engagement

.orgSource

The term was coined in 1994 by Joel Kurtzman , who was the founding editor-in-chief of Strategy+Business magazine and editor of the Harvard Business Review. Review expense policies, conflict of interest, or any other relevant policies or ethical issues. Thought leadership is an old idea that has been made new again.

YouTube 221
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7 Ways Your Nonprofit Can Build a Strong Financial Foundation in 2024

sgEngage

Create an Operating Reserve Fund (or Review Your Policy) An operating reserve is a crucial part of creating a strong financial foundation for your organization. Tip 1: If you have an operating reserve, review your policy. Update the policy based on your current and future needs.

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Move DEI Beyond Words

.orgSource

Revelio Labs’ 2023 report on the state of DEI and the impact of last year’s layoffs, found that DEI-focused roles “experienced a nearly 40% churn rate at companies engaged in layoffs, as compared to about 24% for non-DEI roles.” Review our hiring and onboarding policies to ensure that they are equitable and fair for all applicants.

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5 Essential Employee Retention Tips for Nonprofit Managers

sgEngage

Recruiting and onboarding may have larger impacts on your ultimate retention rate than you initially realized, for instance. If you’re seeking to improve your nonprofit’s employee retention rate, start by reviewing your organization’s practices in each of the categories above and think through how they relate to retention outcomes.

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Helpful Ways to Measure and Optimize Your Nonprofit’s Performance

sgEngage

Some examples: Employee retention rate Absenteeism rate Employee satisfaction, quantified on a questionnaire or survey Free Guide Development Plan Toolkit Download Now Utilizing Effective Data Tools Many nonprofits started out as a grassroots group with a dream and some bootstraps. Outcomes : The effect of an activity on your mission.

Measure 96
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Lessons learned: Using demographic data to move from intention to action 

Candid

By reviewing its grantees’ demographic data, TCE learned that the rate at which Black, Indigenous, and people of color- (BIPOC) led organizations received general operating and multi-year grants was historically lower than that of their white-led peers. Through thoughtful internal conversations, TCE has eliminated this disparity.