GuideStar Webinar (01/30/14) - Weaving Financial Data Into Your Nonprofit's Story
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Join us for a half-hour live demonstration of Financial SCAN, an online financial analysis platform developed in partnership by NFF and GuideStar. Learn about new features for enhanced peer benchmarking and data customization, and how it can help your nonprofit with its communications, planning, and decision-making.
Transcript of GuideStar Webinar (01/30/14) - Weaving Financial Data Into Your Nonprofit's Story
Scott Menzel Product & User Experience Manager GuideStar Peter Kramer Manager Nonprofit Finance Fund January 30, 2014
Effective Solutions
Sound Financial Health
Strong Organizations
Quality Programs
We believe that financial health supports impact
When it comes to finance, nonprofits face common challenges
Knowing which metrics to focus on for assessing financial health
Having the time and skills to collect, parse, and report financial data
Communicating your financial situation and resource needs
Financial SCAN at a glance
What: Data platform for assessing nonprofit financial health and fostering dialogue among all stakeholders involved in making social impact
Who: Private and public grantmakers/donors, nonprofit organizations, philanthropic advisors, consultants and media
How: Private and public grantmakers/donors, nonprofit organizations, philanthropic advisors, consultants and media
WHAT
Data platform for assessing nonprofit financial health, making data driven decisions and informing grantmaker-grantee dialogue
WHO
Nonprofit organizations, private and public grantmakers, individual donors, philanthropic advisors, and consultants
HOW
Draws data directly and automatically from IRS Forms 990,* presenting complex information in an easy-to-analyze and communicate format (313K orgs)
*Note: Financial SCAN does not include data from Forms 990 EZ
What’s in a Financial SCAN?
Organizational Dashboard: Five years of key financial trends and ratios
Graphs & Explanatory Text: More detailed overview of an organization’s: Expenses Revenue Profitability Balance Sheet Liquidity
Peer Comparison Dashboard: Select peer organizations for financial benchmarking
How are nonprofit leaders using Financial SCAN?
To engage staff, board members, and funders in conversations about recent dynamics and current needs
To map visually the organization’s financial story
To benchmark against peer organizations, assessing financial similarities and differences within and across sectors, sizes and markets
To provide historical context to inform budgeting and planning
“My organization never thought about
strategically and proactively planning its financial future
until I presented them with Financial SCAN.
Executive Director, Diversified Community Services,
Philadelphia, PA
Financial SCAN 2.0: New Features!
Excel Download Peer Group Comparison Customized Enterprise Access 7 Day Nonprofit Access
Financial SCAN demonstration
Q&A
nonprofitfinancefund.org 9
Thank you! Peter Kramer
Manager, Advisory Services Nonprofit Finance Fund
617-204-9772 [email protected]
To learn more:
www.guidestar.org/financialSCAN
