8 Finance Principles to Follow When Starting a Nonprofit

Philanthropists who are starting a nonprofit hail from a variety of professional backgrounds. You don’t need an advanced degree in public policy or firsthand experience in public relations to start a nonprofit that’s successful. You need passion.

But while passion lays the groundwork for starting a nonprofit, practical financial skills will keep your organization going. Budget and risk management, developing cash flow projections and diversifying your new nonprofit’s income may not come naturally to you. But there are resources available to help you start a nonprofit that’s financially secure. Follow the link below for eight key business principles you should apply to your nonprofit’s finances.

Executive Directors Embracing Financial Leadership [Nonprofits Assistance Fund]