Mar 25, 2014 11:14 AM by PRESS RELEASE
On Wednesday, January 22, Community Foundation of Acadiana (CFA) partnered with JPMorgan Chase Co. and held two half-day Linking Money to Mission financial workshops. The trainings helped 27 nonprofit organizations balance their missions with their financial realities.
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."
The organizations that attended the workshops were 232-HELP, Acadiana Center for the Arts, Acadiana Symphony Orchestra & Conservatory of Music, ASSIST Agency, Big Brothers Big Sisters of Acadiana, Boys and Girls Clubs of Acadiana, Bridge Ministry, Cathedral Carmel School, Children's Museum of Acadiana, Community Foundation of Acadiana, Faith House, Hearts of Hope, Holy Family Catholic School, Hope for Opelousas, Iberia Industrial Development Foundation, LARC's Acadian Village, Lafayette Catholic Services Center, Lafayette Community Health Care Clinic, Lafayette Education Foundation, Lafayette Parish School System, Louisiana Folk Roots, LOVE Acadiana, Miles Perret Cancer Services, St. Martin School Based Health Centers, St. Mary Community Action Agency, Techeland Arts Council and Young Life.