Financial analysis provides a great way to understand how well your nonprofit is performing. As part of your nonprofit’s financial evaluation, you can leverage a myriad of tools to determine where your organization is headed in the short and the long term.
- You can leverage analytical tools to determine where your organization is headed in the short and the long term.
- The continuing education course offered by Indiana University leverages unique collaboration to help you reach your professional goals.
Financial analysis courses for nonprofits
To make sense of the numbers, there is a need to employ the methods of financial statement analysis to extract valuable insights into the organization’s performance. Hence, understanding the basics as well as the fundamentals of financial analysis can help improve a nonprofit’s overall performance.
In this article, we will consider the top five financial analysis courses for nonprofits.
1. Financial Success for Nonprofits (Cornell University)
This certificate course equips nonprofit executives as well as prospective leaders with the skills to prioritize goals while achieving sustainability. Essentially, the course highlights how to access your nonprofit’s financial strength with the use of account statements and financial analysis. Also, you will learn how to effectively maintain your nonprofit’s financial health and stability through budgeting, finance, and cash flow management, among others.
The Certificate in Financial Success for Nonprofits equips you to understand the use of financial statements and ratios, establish board governance and strategic leadership, and raise funds while generating alternative revenue sources, etc.
2. Financial Analysis for Nonprofit Leaders (IUPUI)
The continuing education course offered by Indiana University leverages unique collaboration to help you reach your professional goals. Mid- and upper-level nonprofit leaders and aspiring leaders in the nonprofit sector can opt for this insightful program.
By and large, the course highlights topics that pertain to fundraising professionals and it requires no prior experience in financial management.
3. Financial Analysis (NPC)
This one-module course uses Inc. Magazine’s award-winning editorial content to provide insights into the fundamentals of financial analysis. Also, you will learn how to read and interpret primary financial statements and evaluate your organization’s financial position, how to calculate various financial ratios and benchmarking.
Essentially, the goal is to equip small nonprofits with the needed practical, hands-on guidance. The course also includes video segments and commentary from industry-leading practitioners and subject matter experts. For ease of understanding, the course also provides how-to lists and suggestions, interactive games, and review questions.
4. Financial Analysis of Public and Nonprofit Organizations (Havard Kennedy School)
This introduction course is designed for amateurs with no prior experience in accounting or financial analysis. The course highlights an overview of the financial reporting landscape and governance, accounting principles and concepts, the major financial statements, and the analysis of major financial topics. Primarily, the financial topic entails organizational liquidity, solvency, operations, funding, and benchmarking.
In addition, the course provides a good understanding of the differences between public and nonprofit accounting. Nonprofit leaders seeking to learn the practical skills of accounting and financial analysis can opt for this course.
5. Nonprofit Finance for Nonfinancial Managers (University of Illinois)
The course covers the various processes and procedures of financial management to help leaders make informed decisions. All course content and learning activities are uniquely combined to assist individuals who have no prior experience in finance roles. Also, professionals searching for a refresher can undertake the course.
Course content outlines the policies and procedures that secure the effective operation of any organization, the different types of financial statements used in financial management, and the reporting requirements required to ensure IRS compliance.
Conclusion
To sum it all up, an understanding of financial analysis allows you to gain important insights about your nonprofit’s performance. Furthermore, it provides you with the essential tools to identify opportunities for enhancing organizational decision-making.
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