Whether it’s to help others in the community or to support a cause they’re passionate about, nonprofit organizations work hard to do good. But what happens when the day-to-day work of running a nonprofit starts to feel like too much? That’s where a financial advisor can help.
Here are three reasons why nonprofits should work with a financial advisor.
Most financial advisors will help with investment decisions and strategies, including how to grow the wealth of your nonprofit organization. This may include researching assets received as donations as well as opportunities to invest in stocks, bonds, and other securities that could benefit your nonprofit.
Financial advisors can help nonprofit organizations with a variety of investment-related tasks, such as helping to identify and assess potential investment opportunities, provide guidance on how to allocate assets, and monitor investments over time. They can also advise on how to manage risk and compliance issues associated with investments.
Many financial advisors also have experience working with nonprofits, so they can provide valuable information on how to best manage your organization’s finances including budgeting, cash flow management, and investment strategies. Working with a financial advisor allows nonprofit organizations to align their investments with their goals and objectives. Ultimately, the goal is to help you grow your nonprofit’s assets so it can continue to do good work in the community.
One of the key roles of a financial advisor is to keep their clients up to date with any changes in financial guidance that may affect them. This is especially important for nonprofit organizations, which are subject to a variety of regulations and requirements.
A good financial advisor will stay abreast of any changes in the law that may impact their nonprofit clients and provide timely guidance on how to comply with any new rules. They will be familiar with nonprofits’ unique accounting and financial reporting requirements and can help ensure your organization meets all its obligations. They can also help you navigate the sometimes complex world of grants and fundraising.
If you are running a nonprofit organization, it’s key to have a trusted financial advisor who can guide you in keeping your organization financially healthy and compliant with all applicable regulations.
An experienced financial advisor can provide valuable assistance during a yearly audit. They will ensure necessary paperwork is in order, provide accurate records, and offer insights and recommendations on improving your financial picture.
Working with an advisor is a simple, three-step process:
Financial advisors can also offer advice on debt management or investing strategies. Overall, working with a financial advisor during an audit can help to make the process smoother and more successful.
Your nonprofit has a lot to offer society. A financial advisor can help develop a plan for the future while offering invaluable advice when it comes to making tough decisions about your organization—all so your nonprofit can reach its goals while keeping your donors happy.
If you’re a nonprofit looking for guidance to grow and prosper your organization, we’d love to chat with you about how we can help. To get started, call our office at 603-431-1444 or visit our Measured Wealth Private Client Group website and set up a complimentary consultation.
Measured Wealth Private Client Group, LLC was founded on the core values of our country, hard work, integrity, and uncompromising quality. Independence is our backbone. We diligently work for each client, assisting them in reaching their financial goals.
For 20 years we have inspired our clients to make informed decisions through education, communication, and service which exceeds their expectations. We serve a select client base, and for the benefit of our existing clients, we have a mutual selection process of accepting new clients every year.
We invite you to explore Measured Wealth Private Client Group, LLC and “Experience the Difference.”