Ruth.McCambridge
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what I find interesting about these and other stories we have heard on this topic, is 1. the incredible value of the PPP program and how little its successes have been discussed as opposed to some of the abuses (not necessarily by nonprofits), and 2, the creative nimbleness of so many nonprofits faced with an operating environment that was chock full of unknowns and cascading problems. We’d love to hear more stories here so chime in!
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Thanks for these questions to date and keep em coming! Allof these have been very helpful as the panel considers our discussion this afternoon and beyond!
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This is Ruth McCambridge again introducing this area where we ask you to tell us your story about how you did or did not use reserves during the pandemic to help your nonprofit negotiate through that crisis and all the attendant social and economic tremors of that era. This collection of the real dynamic data of decisions made and strategies taken is where many of us live. It is what makes nonprofit financial leadership such a rich field. Please make sure to tell us what kind of organization you are and what kinds of problems you were faced with to help the rest of us understand the context. Please feel free also to pose questions or comments to eachother if someone else’s story strikes you as important, intriguing or instructive.
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Welcome! This is Ruth McCambrridge, a proud member of the team here at the new Nonprofit Financial Commons where we believe wholeheartedly in the deep wisdom and tested skill of nonprofit financial leaders. And we know that all of our knowledge is enriched by being able to consult peers in similar straits – that is why we built this platform. We believe in your wisdom and skill, by the way, because we watch what many of you do day to day. But we have also been in those leadership positions ourselves and we know how frustrating it is to have a bunch of prescriptions thrown at you as best practice when you know that the formula makes no sense in your context and for your organization.
That is why, at every step, we , at the financial commons will ask you what exactly you need and what you know. In this case, we are asking for any questions you may have foor our panelists at our webinar on reserves on Thursday. If you have none yet, don’t worry! We will ask again. and now you can go on to the next area where we ask you about your experience with your use of reserves during the pandemic.
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QUESTION FOR YOU AND IN PREPARATION FOR OUR EVENT ON OCTOBER 27
How has your organization actually used its reserves (if it has used
them) in the past three years? Tell your story so others get its primary
importance to your organization.