If you run a small non-profit organization and you don't have a CFO on the team, it's time to make a change. You might not think that you need a CFO right now, but that might not be the case. In fact, as a small non-profit, a CFO might be more important than you'd think. If you're worried that you can't afford a full-time CFO right now, that's not a problem. You might not know this, but you can hire a part-time CFO for your non-profit organization. Read the list provided below. You'll find four important reasons to hire a part-time CFO service for your small non-profit organization.
Reduces Need for Full-Time Position
If you know that you need a CFO but your non-profit can't afford the cost right now, it's time to hire a part-time CFO service. One of the great things about hiring a part-time service is that you receive all the benefits of having a CFO on the board, without funding a full-time salary. Not only that, but you won't need to worry about the benefits package either. The CFO service will handle those as well.
Ensures Sound Money Management
If you're in charge of a small non-profit organization, you need to know that the money is being well-spent. After all, non-profit organizations receive their funding from donations. If those donations aren't well-spent or the funds are mismanaged, donations will dry up quickly. If that happens, you can no longer provide assistance for the people you're trying to help.
That's where a part-time CFO service comes into the picture. Your part-time CFO service will monitor your financial records to ensure that sound money management practices are being followed. They'll also provide you with advice on how to improve the management of donated funds.
Monitors Investment Opportunities
If you run a non-profit and you're looking for ways to make your money grow, it's time to hire a part-time CFO service. It's not enough to seek donated funds for your non-profit. You also need to have a sound way to make those funds grow over time, which is why you need a CFO on board. Your part-time CFO service will monitor current investment opportunities, which will ensure that your donated funds are being invested in the right markets.
Assists With Goals for Expansion
Finally, if you have plans to grow your non-profit organization, you need the assistance of a part-time CFO service. It's not always easy to expand a small non-profit organization, especially when you don't have the right networks. A CFO service can help you achieve the growth you want for your non-profit. That's because they have the knowledge, experience, and network access to take your non-profit organization to the next level.
Contact a company like Leaf Point Solutions to learn more about CFO services.