Effective financial management is an important characteristic of a healthy nonprofit organization. Being a good steward of resources (fiscal responsibility, appropriate transparency and donor accountability) can also build community support for your organization. Most importantly, sound financial management is vital to achieving mission and sustaining the organization.
On this episode of the M.J. Murdock Charitable Trust podcast on Writing Great Grants, Pauline Fong, Program Director with the Murdock Trust, joins Steve Moore to discuss the key elements and organizational characteristics, behaviors, and practices to consider regarding effective financial management.
Further reading on this topic: https://murdocktrust.org/2019/10/talking-point-financial-management/