Thursday, July 21, 2011
2011 Nonprofit CFO Findings
Posted by Armanino Nonprofit Team
Our 2011 CFO Evolution Nonprofit Benchmarking Survey revealed a number of findings related to the current state of Bay Area Nonprofit CFO organizations as well as the future aspirations of nonprofit CFOs. One in particular is the major challenges currently facing nonprofit organizations, including revenue generation, declining membership/student population and expense management. A recurring theme throughout the responses is that the nonprofit CFO organization is spending more time than preferred in the accounting role versus working on the strategic direction of the organization.
Below is the finding from our survey regarding the significant risks currently facing organizations in mission achievement.
To read the full report from our survey, please visit our website at the link below:
Nonprofit organizations have specialized audit, tax and operational needs that require specialized service. Armanino has been committed to the nonprofit sector since 1953, and we now work with more than 500 nonprofit clients. This hands-on experience gives our staff of CPAs and former CFOs a deeper understanding of the issues nonprofits face, so we’re able to meet their needs and help them fulfill their missions in the most efficient, cost-effective way possible.