CFA co-sponsors workshops for nonprofit organizations
Community Foundation of Acadiana partnered with JPMorgan Chase Co. and held two half-day Linking Money to Mission financial workshops on Jan. 22.
The trainings helped 27 nonprofit organizations balance their missions with their financial realities. Among those participating were St. Mary Community Action Agency and Techeland Arts Council of Franklin.
The workshops were conducted by Renee Hayden and Alex Epps of Nonprofit Finance Fund, a 501(c)(3) nonprofit organization that works to create a strong, well-capitalized and durable nonprofit sector by connecting money to mission. Participating organizations were selected for their capacity to benefit from the workshops. Two members from the senior staff and/or board of directors of each participating organization learned about a nonprofit’s operating structures, the nuances of nonprofit revenue, how revenue flows through a nonprofit organization and other insights into the financial business of nonprofit organizations.
Real-life case studies demonstrated how decisions impact an organization’s financial health and viability. One of the main topics discussed was the importance of communicating an organization’s financial information to funders and other stakeholders to help tell its financial story. “Being able to articulate financial statements allows you to transparently and unapologetically ask for the resources you need,” said Renee Hayden, manager of Nonprofit Finance Fund.
Vicki Chrisman, director of finance for the Acadiana Center for the Arts, participated in the training and said, “It was a very thorough training. Sometimes financial trainings are too simplistic and stay at that level, but this one delved deeper. The training moved past basic level financials and focused on deep financial analysis.”
The workshops were underwritten by a grant from the JPMorgan Chase Foundation to help organizations better link their missions, capacity and capital.
“This grant reinforces our commitment to the Lafayette community,” said Ed Hebert, president of Chase in Lafayette. “These financial workshops will help our Acadiana non-profit partners tackle issues like workforce readiness, economic development, affordable housing and other important concerns. Chase understands that our non-profit partners need to be financially savvy and strong to deliver on their mission of making Acadiana a better place to live and work.”
Community Foundation of Acadiana is south Louisiana’s premier philanthropic organization benefiting our region, with a particular focus on the parishes of Acadia, Evangeline, Iberia, Lafayette, St. Landry, St. Mary, St. Martin and Vermilion.