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Module 2: Unit 4

Financial basics

Part of your stewardship role involves managing funds and being able to assess the financial capacity of nonprofit organizations.

These resources will help you build your financial fluency.

Read (20 minutes)
Fashioning an investment strategy How can you know what you don't know about financial stewardship? Start with this book chapter; it's a comprehensive overview of all the basics with plenty of case studies and examples to learn from.
Read (5 minutes)
Teaching kids about money: An age-by-age guide Read this short guide for quick tips on how to teach financial literacy to kids up to age 16.
Read (5 minutes)
Get a Financial Life: Personal Finance in Your Twenties and Thirties Understanding personal finance is an important building block to understanding foundation and nonprofit financial health. This book is a comprehensive, easy-to-read volume targeted at young adults.
Tune-in (15 minutes)
Financial management for nonprofits: Key roles for non-financial staff Watch this video to learn every board and staff member's role in the finances of a foundation.
Do (90+ minutes)

independent-meansParticipate in a program offered by Independent Means

This unique program was founded by Jolene Godfrey and offers a wide variety of financial education modules for children and families. 

Do (90+ minutes)

Nonprofit finanace fund

Get involved with the Nonprofit Finance Fund

This national nonprofit “connects money to mission,” offering extensive resources through its Nonprofit Finance 101 program.

Tune-in (5 minutes)
Financial tips from the Nonprofits Assistance Fund The Nonprofits Assistance Fund offers a series of videos and many other resources covering financial and accounting basics for nonprofit organizations.
Read (30 minutes)
Avoiding conflicts of interest and self-dealing for family foundation boards This Passages Issue Brief provides essential guidance on self-dealing rules and investment management for family foundations.
Do (45 minutes)

Participate in an upcoming board discussion on finances

Allow and encourage your next generation family members to sit in on board meetings, or as a guest at the board finance committee meeting. Encourage and allow to them to ask questions that enhance their knowledge of the foundation and its finances.