As the nation grapples with the COVID-19 crisis, nonprofits face tough decisions about how to sustain their organizations within an ever-changing landscape. Without a clear sense of how long social distancing will last and how much emergency or government stimulus funding will be available, nonprofit leaders are having to make immediate adjustments while also planning for the future amidst great economic uncertainty. In response to this uncertainty, we are offering off-the-shelf services in the form of financial management webinars and one-on-one coaching, in addition to our free online resources, including blogs, tools, and templates on financial planning and implementation for nonprofits and donors.
WHAT MAKES THIS VENDOR UNIQUE
- We believe that consulting and coaching should go hand-in-hand. Our engagements are focused on teaching you our approach to finance so that you can keep practicing it on your own.
- The models, decks, and spreadsheets that we develop collaboratively are meant to be trustworthy tools, not final deliverables that are put in a drawer.
- Our ultimate goal is to share our expertise, so that at the end of our engagement our client is better equipped to make strategic financial decisions for the organization’s future.
- Our work is also driven by our organizational values: equity in action, generosity of spirit, responsiveness, rigor without attitude, and leading by doing.
- We staff our work carefully, drawing from the expertise of a consulting team with experience in similar on-the-ground work in other contexts.
A SUCCESSFUL TA EXPERIENCE
Through our recent Healthy Outcomes Initiative, we worked with the California Food Is Medicine Coalition (CA FIMC), a consortium of six community-based organizations, each providing medically tailored meals to critically ill individuals, including senior citizens, helping them heal while fighting the effects of aging and isolation. The Coalition was preparing to participate in a new, statewide pilot, partnering with California’s Department of Health Care Services to provide medically tailored meals to the chronically ill Medicaid population. NFF provided intensive financial consultation to the Coalition, including detailed scenario analysis and assessment of full costs for each member. As a result, the Coalition emerged with a better understanding of financial risks and priorities for their collaborative as a whole, as well as individually across the six agencies and they were better able to plan for and begin implementation of the statewide pilot.
The statements in this document are made solely by Nonprofit Finance Fund. No statement in this document should be construed as an official position of or endorsement by Abt Associates Inc. or the Massachusetts Executive Office of Health and Human Services.
ABOUT NONPROFIT FINANCE FUND
Nonprofit Finance Fund (NFF) envisions a world where capital and expertise come together to create a more just and vibrant society. We unlock the potential of mission-driven organizations through tailored investments, strategic advice, and accessible insights. NFF is a financial management consulting practice that has been providing solutions-based advice since 1980. In recent years, NFF has intentionally expanded our work at the intersection of healthcare and social service delivery. NFF’s services include custom financial consulting to help clients plan for, negotiate, and enter into value-based and alternative payment models. Services include analytics to support readiness for value-based payments, including evaluations of historical financial performance; program economics modeling; unit cost and full cost analysis; and cost allocations. We also work with clients to explore business model adaptations to incorporate Alternative Payment Models.
In recent years, NFF has intentionally expanded our work at the intersection of healthcare and social service delivery. Since 2013, NFF’s Advisory Services team has helped over 115 FQHCs, health organizations, and community-based providers of health and human services, along with a national hospital system and 6 health/health care-focused foundations, build the financial knowledge and capacity needed to respond strategically to the shifting health and health care landscape.
ORGANIZATION FUN FACTS
- We like games. Our New York team does the New York Times crossword together every morning. Our LA team keeps a puzzle out in their lunch room at all times and our Boston office has bananagrams available to play at a moment’s notice. At our last all-staff retreat in New Orleans, the scavenger hunt was one of the highlights of the trip. NFF hates non-searchable PDFs, broken Excel models, and when people open the office dishwasher before the cycle is finished.
QUOTES FROM CLIENTS
“The most important thing I learned from working with NFF is the importance of drawing out the financial value of what we do. It’s all the little things our agencies do that make our work innovative. We are now in a better position to articulate our actual costs and the value we bring to the health care system.” – CEO
“Following strategic planning work with NFF in 2015, we have doubled all our numbers – in terms of revenue, number of schools served, and families and children seen and educated. We are rockin’ it!” – Executive Director