Nonprofit Fiscal Close – Are You Doing It Right?

Nonprofit Fiscal Close – Are You Doing It Right?

When I hear “fiscal close” I immediately think “accounting team!” and happily walk away because, well, I’m not an accountant. Are you with me!?

But I recently was chatting with some of my Social Solutions teammates about the common nonprofit fiscal close date of June 30 and realized that at a nonprofit, to walk away would be to miss a big opportunity.

Yes, the closing the financial books is the responsibility of the accounting team and I’d venture to say they wouldn’t want me interfering. (They’d just have to fix all my errors anyway.) From a fundraising and communication perspective though, there are actions a person with my skill set could and should take to make hay with the fiscal close milestone.

Enter the Nonprofit Close-Out Kit by Social Solutions. The Kit includes four free templates and an eBook to help nonprofits report on their impact and communicate its importance effectively. And when you do that it leads to increased community support, more engaged board members, and an inspired team of volunteers and staff, all of which lead to more impact. It’s the best kind of cycle you can get into as a nonprofit.

My favorite piece in the Nonprofit Close-Out Kit is the board presentation template. This PowerPoint template combines charts, infographic-like elements, client stories, and progress-to-goal tracking to really tell the story of your service year. It covers outputs, outcomes, finances and inspiration.

Whether it is on June 30 or another time in the year, take advantage of your fiscal year close to make a splash. If you do that, then you’ll know you’re doing it right.