Tips to Navigate Financial Crisis

A broad economic crisis can magnify a nonprofit’s pre-existing financial difficulties. The tips below are helpful for sound financial planning in all economic situations. However, in unstable times, they become even more vital. Getting through such crises requires communication, transparency, and planning rather than “fake it ‘til we make it” behavior. In preparation for a possible recession, NFF recommends a two-part strategy: assess your nonprofits potential financial risks, then create a plan to respond to those risks.