Strengthening the Accidental Financial Leader – Resource List

Insights

A Simple Approach to Quickly Improving Board Financial Literacy

Most nonprofit boards have members with varying levels of experience with finance in general and nonprofit finance in particular. This disparity of understanding is often breached to some extent by a financial leader or leadership team, but that may prove inconsistent and still leave some members at the fringes of conversations their contributions would add value to. Peter Farstad proposes a way to use the executive summary and annotations to keep board members focused and informed on the metrics that matter. His simple example is easy to adapt and replicate. Read this NFC exclusive piece here.

A Playbook for Nonprofits Facing Revenue Adversity in 2026

This playbook is designed to help nonprofit leaders and boards make sound financial and strategic decisions during periods of revenue disruption and uncertainty. It reflects the real-world practices nonprofit leaders use when familiar conditions shift whether due to policy changes, funding volatility, rising demand, or broader economic forces. Rather than offering a single “right” answer, the playbook provides a structured way to assess risk, clarify options, and choose a path that fits your organization’s mission, capacity, and financial runway. Read the playbook here.

Financial Risk Assessment: A 3-Level Model for Nonprofits in 2025

As many nonprofit organizations continue to navigate uncertainty, there is an immediate need for leaders to assess their risks and consider how they may respond to likely scenarios. The following risk assessment model is designed to guide nonprofit board of directors and management staff on the work they need to do to organize their financial planning over the next six months to a year. Read more here.

Tools

Cash Flow Projection Template

Part of the Nonprofit Finance Fund’s “Fundamentals for Nonprofits” collection, this template can assist organizations with their cash flow projections:“A cash flow projection is a tool that provides detail on the timing of cash coming in and going out of the organization each month, thereby providing a picture of the organization’s cash balance throughout the year. It gives insight into periods when the organization will have adequate cash to cover expenditures and periods when it will not. A cash flow projection is an essential document for determining how much working capital an organization needs to maintain or build to manage the low cash points in the year.” Download the template here.

True Program Costs: Program Budget and Allocation Template and Resource

“While the long-term goal for nonprofits is not to return profits to shareholders, we all know that nonprofits are business entities that need to maintain financial health and stability in order to achieve their mission. Understanding the true, full cost of delivering various programs and services in the community is a critical piece of the management puzzle.” Visit the guide.

Cost Allocation Primer Video

“Your nonprofit work has certain knowable costs, such as costs for staff, costs for property and equipment, and costs for programs. Sound nonprofit finance means determining, accounting for, and allocating those costs properly. It also helps in your fundraising efforts to know how much a program will truly cost your organization.” Watch the video.

Articles

An Executive Director’s Guide to Nonprofit Leadership

“There is an important distinction between financial management and financial leadership. Financial management is the collecting of financial data, production of financial reports, and solution of near-term financial issues. Financial leadership, on the other hand, is guiding a nonprofit organization to sustainability. This is the job of an executive director. He or she is responsible for developing and maintaining a business model that produces exceptional mission impact and sustained financial health.” Read the article here.

Beyond Financial Oversight: Expanding the Board’s Role in the Pursuit of Sustainability

“While financial oversight is absolutely critical, it is hardly sufficient. Boards of directors charged as stewards of an organization have to be fundamentally knowledgeable about and actively engaged in the business models of the organizations they govern. And nonprofit business models are typically the antithesis of siloed; they are instead a very interdependent mix of programs and fundraising activities that work together to achieve a set of impacts and financial results.” Read the article here.