It’s a New Year, but the same goal still stands!
On Sunday, January 20th the Banyan Foundation held their first meeting for 2019. During this session we established a foundation that goes beyond an organization’s origin story, where as youth leader members must not only focus on an organization’s story, but be able to evaluate every aspect of the organization that makes it a whole. To this end, evaluating how the organization ramifies the amount of expenses that are made is crucial to the process of making a final decision in May. The significance of intensively evaluating expenses is crucial because it paints a larger picture that elucidates the impact that the organization can make in the future.
On that note, Daniel Forkkio, the Executive Vice-President of Finance from The Fulfillment Fund, gave an informational presentation that pondered the most important aspects of the evaluation process. Forkkio’s presentation titled, “Non-Profit Financial Health 101” elucidated significant factors in analyzing a non-profit and private companies. Key factors that were articulated were:
*Program Expenses (Direct): Good & Services to fulfill the programmatic purpose of the organization.
*General & Administration – G&A (Indirect): Costs of business management, record-keeping, overall operations.
*Fundraising Expenses: Costs of fundraising campaigns and events.