As the leader of an organization’s finance function, the nonprofit CFO makes a critical contribution to overall mission success. While this has always been an understated reality, it is especially important in today’s climate as organizations work to meet short- and long-term challenges in an extremely competitive and constantly evolving world. In 2018, nonprofit CFOs will face many short-term and long-term challenges: new regulations, smaller budgets, and the perpetual challenge to do more with less.
Blackbaud’s new CFO playbook “Three Roles of the Mission-Infused Nonprofit CFO” begins to identify best practices and guiding questions that drive finance and mission success through defining the three major roles of the mission-infused nonprofit CFO:
● The Builder — The builder is driven to construct a sustainable financial structure and business model that meets mission needs, goals, and aspirations over time. Such mission success represents the lasting legacy of the nonprofit CFO.
● The Strategist — To ensure that the fiscal year financial and mission stories go as planned (or better than planned), the CFO cannot be a passive bystander; they must be an active participant. The role requires a proactive, strategic decision-maker who moves the organization along the path to mission and financial success.
● The Cultural Trendsetter — Some say the nonprofit CFO is the loneliest job in the organization. The expectation is that the role exists to cut operations down to size and achieve bottom-line goals regardless of all the good work the organization does. However, this perception doesn’t have to be the reality; it doesn’t even have to be the perception.
This guidebook is written with the hope that its reader will consider what the connection between mission and finance means, as well as define and implement the strategies that result in better organizational outcomes. If the ultimate goal of the nonprofit sector is to positively impact society—whether through advocacy, arts, direct service, education, healthcare, public policy, research, and social services—the nonprofit CFO must have a seat at the mission table.
Download the CFO playbook at www.blackbaud.com/MissionFocusedCFOPlaybook to discover all the tools you need to become the latest edition of the nonprofit CFO.