An Executive Director's Guide to Financial Leadership. There is a difference between financial management and financial leadership but do most executive directors understand this? Financial management is the collecting of financial data, production of financial reports, and solution of near-term financial issues. Financial leadership is guiding a nonprofit organization to sustainability. The ED is responsible for developing and maintaining a business model that produces exceptional mission impact and sustained financial health. This should be required reading for all EDs.
Executive liability rising for private, nonprofit firms. Before joining a board, prospects should ask the nonprofit if they have directors and officers insurance for their executive employees and board members. Surprisingly, one out of every four private or nonprofit firms do not have D & O insurance and when asked why not, 80% of nonprofits said they do not believe they need it.
Fidelity Charitable Reports Record-Breaking Year in Grants and Contributions. Fidelity Charitable donors made more than 380,000 grants, totaling more than $1.3 billion, to nonprofits nationwide during 2011. Donors also made record-breaking contributions to their Giving Accounts in 2011, with nearly $2.9 billion being recorded in new charitable dollars, up from more than $1.6 billion in 2010.