February 19, 2013

New Web Site Teaches Charities About Finances

A new Web site seeks to help social-service charities bolster their financial know-how. offers in-depth information and guides on budgeting, financial analysis, monitoring, and the role of boards in financial management. The site was created by the Wallace Foundation and Fiscal Management Associates, a consulting company that focuses on nonprofit financial management.

One of the site’s featured tools is Go or No-Go?, an interactive questionnaire designed to help organizations determine whether taking on a new contract will help or hurt their bottom line.

Too often nonprofits don’t know how much it costs them to provide services, and they’re tempted to start new programs that aren’t a good fit for their mission, says Sharon Clark, a director at the Wallace Foundation.

“The tool asks organizations in a very thoughtful way, involving the program staff, involving the financial staff, involving the executive director, to say, Let’s really go through and see if this does make sense for our organization,” she says.