Key Stages of Building a Financial Model for NFP Organisations
Financial modelling is one of the most important tools a non-profit organisation can have under its belt. It can help in the planning of short and long-term strategies, to identify areas for improvement, and even to adjust the entire business model.
The board should be part of building a financial model, but it must cooperate with other key decision-makers in the organisation to ensure everyone’s needs are being met.
Based on a recent webinar hosted by Daniel Cadart, CFO of Cadart Financial Control, here is a way to approach financial modelling, the key numbers needed to create a more realistic forecast, and what to look for in financial modelling software.