Why Financial Transparency, Accountability, and Governance Are So Crucial For Nonprofits [Podcast]
March 10, 2015 - By: SC&H Group
In the following podcast interview, Mike Young, a Director with SC&H Group, discusses key financial transparency, accountability, and governance trends in the nonprofit sector.
The nonprofit sector is rebounding in today’s post-recession economy. Due to increases in the equity markets, not-for-profit organizations have higher levels of endowments and rising personal donations – though federal and state funding has remained flat.
Now is a critical time for nonprofits and educational institutions to maintain a high level of financial transparency, accountability, and governance.
Today’s nonprofits require accurate financial information to enhance strategic decision-making, and to share with board members and grantors. In addition, strong financial statements can help give nonprofits an edge as they compete for funding.
While the economic climate is more favorable for nonprofits, these organizations continually need to provide quality, timely financial information to all stakeholders so business operations can be appropriately monitored and complete transparency can be offered.
Is your nonprofit taking the right steps to ensure complete financial transparency? SC&H Group’s nonprofit experts work to assure the reliability of financial records, evaluate the adequacy of internal controls, and produce strategies that help not-for-profits grow in today’s economy.
For additional insights on the latest newsworthy topics impacting transparency, accountability, and governance in the nonprofit sector, download SC&H Group’s March 2015 Not-For-Profit Perspectives newsletter now.
Or, to learn more about our services for this unique sector, please contact us here.