Keeping reserves for a “rainy day” is a good practice for all nonprofit institutions, but how much should your organization set aside? A percentage of annual budget? Three-to-six months? The answer is: It depends. Each nonprofit is unique and can experience distinct unexpected circumstances that may affect its long-term financial health.
This session, led by Dennis Gogarty of Raffa Wealth Management, will focus on how to conduct a risk assessment that will assist your nonprofit in quantifying financial risks and opportunities. Once completed, this risk assessment aims to assist in finding the appropriate reserve level for your unique organization.
Whether you are in the initial phases of creating your nest egg or reevaluating longstanding reserve levels, this session is for you.