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Securing your charity’s financial future – don’t be reserved about reserves!
Wednesday 1 September 2021
1:00 pm to 2:00pm
Hosted by Alison Oliver (former Visionary CEO, TPT Director of Partnerships and Finance Director) and Rob Challis (experienced director, trustee and charity sector CEO and board advisor).
As charities continue to face challenges in ensuring they can remain on a sound financial footing, financial insecurity can often result in reactive and short-term thinking. What is actually needed is a broader, longer term view of the situation that can provide charities with much needed stability and even present new opportunities. However, developing a financial strategy that will ensure sustainability can take time and involve many different aspects for an organisation to work through. In particular, a good understanding of the charity’s reserves policy and position and how this can best be articulated to potential funders is key. The session will cover some aspects of this including:
- Understanding your business model;
- Thinking about reserves and how you articulate your position to funders;
- Establishing a financial strategy;
- Developing good financial management information