Greater New Orleans Foundation Strengthens Financial Capacity of Local Nonprofits

(New Orleans, LA – July 3, 2018) The Greater New Orleans Foundation delivered a three-part training that armed twelve local nonprofit organizations with improved financial management and organizational performance skills. Financial Leadership: Transactional, Managerial, and Strategic-A Practicum for Success was presented thanks to funding and support from the Kresge Foundation. It began in March and was facilitated in partnership with Fiscal Management Associates (FMA), a national consulting firm that specializes in coaching nonprofits to build their financial capacity.

“This training provided us a rare, but invaluable opportunity to broaden the lens of financial management from the executive director and finance director across our organization,” said Good Work Network executive director Hermione Malone about her experience. “We were able to understand why our financial story is as valuable as our programming story, and how to better engage the entire organization in planning, discussing, and shaping that story. Best of all, we left with a wealth of tools and templates and the knowledge to use them all well.”

“Financial management is a key part of overall organizational success, making it a focus of our Organizational Effectiveness work that strives to strengthen nonprofits,” said Joann Ricci, Vice President of Organizational Effectiveness at the Greater New Orleans Foundation. “We are excited to partner with Fiscal Management Associates and the Kresge Foundation to offer nonprofits this opportunity to improve.”

Participants received support through one-on-one coaching from FMA staff and assistance in developing a long term financial action plan.

“As a burgeoning nonprofit organization, the skills our team learned are invaluable to our sustainability and growth, said Bastion founder and executive director Dylan Tête. “I learned new concepts, reinforced others, and reversed bad habits. Our board treasurer and development director trained side-by-side, which facilitated a type of strategic and operational synchronization never before experienced. Moreover, our evaluation director gained a new understanding of how financial health is linked to program outcomes.”

The twelve nonprofits selected to participate in the inaugural program were Bastion, Families and Friends of Louisiana’s Incarcerated Children, Girls on the Run, Goodwork Network, Greater New Orleans Fair Action Center, Harmony Community Development, Jericho Road/Project Homecoming, New Orleans Family Justice Center, New Orleans Film Society, Playworks, Sankofa, and Silverback Society.

The mission of the Greater New Orleans Foundation is to drive positive impact through philanthropy, leadership and action. Through its Organizational Effectiveness Initiative, the Greater New Orleans Foundation is supporting the regions nonprofits by ensuring they benefit from good management and strong governance, allowing them to better deliver programs that serve the community. In 2018 so far, the Organizational Effectiveness Initiative has led 26 learning opportunities with 605 attendees.