Building Stronger Nonprofits Through Better Financial Management: Early Efforts in 26 Youth-Serving Organizations

Outlines the Financial Management in Out-of-School Time initiative to improve nonprofits' long-term financial management capacity and reform funding practices that weaken it, challenges participating nonprofits faced, progress to date, and early lessons

Building Stronger Nonprofits Through Better Financial Management

The Wallace Foundation's four-year Strengthening Financial Management in Out-of-School Time initiative(SFM) was designed to improve the financial management systems of 26 well-respected Chicago nonprofits that provide out-of-school-time (OST) services. SFM grew out of the Foundation's longstanding commitment to improving the quality of services for youth during nonschool hours and the realization that even successful nonprofits face financial management challenges that have an impact on their ability to achieve their missions. To address these challenges, the initiative is working to reform public and private funding practices that strain OST organizations' financial management capacity and providing participating organizations with financial management training and peer networking opportunities (using one of two models that vary in intensity and in the balance of individual vs. group-based training and support)

TechNews digests: Jan - Nov 2009

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