Today’s funding environment is becoming increasingly competitive. Navigating to, and staying on, the pathway for success can be a confusing journey.
That’s why GuideStar partnered with Sage Intacct, the innovation and customer satisfaction leader in cloud financial management software, to launch the Nonprofit Financial Board Book. This new tool is a powerful dashboard that gives nonprofit organizations a holistic view of their financial health. The dashboard pulls financial information from the organization’s Sage Intacct records and aligns it with key metrics that GuideStar has identified for nonprofit success. Here’s how the Nonprofit Financial Board Book works:
- Provides real-time visibility into key revenue composition and sources
With real-time visibility, nonprofit organizations can gain insight to guide planning and strategy, while strengthening funding stability. The ability to instantly view reserves allows nonprofits to sustain any short-term gaps and expand funding diversity.
- Monitor organizational health with key metric visualizations
With access to key balance sheet metrics that align with GuideStar recommendations, nonprofits can easily track trend lines and changes for a more complete picture of financial health, while informing planning and strategy for proactive management.
- Guide discussions with “Questions to Consider”
Organizations can gain peace of mind with the “Questions to Consider” capability, so no stone goes unturned. With questions from income to the balance sheet, this function helps organizations ensure they’re making the right decisions.
- Navigate directly to GuideStar for benchmarking
Customers have a direct connection to GuideStar’s benchmarking tool to ensure alignment with recommended metrics and best practices.
GuideStar worked closely with Sage Intacct to ensure that the Nonprofit Financial Board Book raises the bar for easily managing balance sheet performance, funding mix, and overall composition of key revenue sources to ensure sustainability. Because Sage Intacct automates reporting, the dashboard is seamlessly updated from operational resources, including Donor Management Systems, Budgeting and Planning software, Payroll, and more.
Gabe Cohen is GuideStar's senior director of marketing and communications.