Louise Roe, a seasoned Fundraising professional, shares insights on grant funding and establishing credibility with potential donors. She emphasizes the importance of research when applying for grants and matching values with funders.

Lou shares strategies for cultivating long-term relationships with foundations, leveraging in-kind donations, identifying foundations whose missions align with a non-profit's, and negotiating grant terms. She provides valuable strategies for navigating the challenges of fundraising in the non-profit sector. In this part of the conversation,

We tak about the hidden work involved in fundraising and the need to cover overhead costs.

Lou shares immediately implementable fundraising tips.

KEY TAKEAWAYS

Research funders and match values to increase the chances of securing grant funding.

Clear and simple language is crucial in grant proposals.

Researching foundations and looking at similar charities that have been funded can help identify foundations whose missions align with a non-profit's.

Negotiating grant terms is possible, especially when there are changes or challenges that need to be addressed.

Match your grant applications to the interests of the funders and be clear in your proposals.

BEST MOMENTS

"Make sure you fit what funders are looking for."

"Building relationships and networking are key strategies"

"Passion and storytelling are important elements"

"Researching foundations and looking at similar charities"

"Research successful applications"

"Matching interests, clear proposals"

EPISODE RESOURCES

Connect with Lou: https://www.linkedin.com/in/louise-roe-9440851a4/

Nene Park Gardens: https://www.nenepark.org.uk/

ABOUT YOUR HOST

Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.

With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.

Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.

Work with Aishat: www.bancservices.co.uk

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In this episode, we recap and reflect on the The Nonprofit Bookkeeper's journey to date.

I also share information about the approach of a summer hiatus and take the opportunity to pause and reflect on some of the topics discussed with guests to date.

ABOUT YOUR HOST

Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.

With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.

Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.

Work with Aishat: www.bancservices.co.uk

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Today's guest Patrick Regan, Founder of Rights Evaluation Studio, an independent monitoring and evaluation consultant, who brings a wealth of experience from his work with health and human rights organizations, sheds light on the importance of monitoring and evaluation (M&E) in the non-profit sector and how to make the most of a limited MEL budget.

We explore the critical elements of monitoring and evaluation (M&E) in non-profit organizations and Patrick shares lots of practical tips for making the most of a restricted M&E budget.

KEY TAKEAWAYS

• A theory of change is a crucial tool for non-profits to articulate how their activities will lead to long-term impact.
• Participation of stakeholders, including those with lived experience, is key to effective M&E and can lead to more relevant and impactful programs.
• Non-profits can implement a robust M&E system even with limited resources by prioritizing data collection and involving staff with relevant skills.
• Effective communication of M&E findings to donors requires a combination of quantitative and qualitative information, tailored to the preferences of the audience.

BEST MOMENTS

"Monitoring and evaluation is a combination of applied social research and project management principles and practices."

"Stories are often the most compelling way to understand impact."

“… if you have a very scientific donor, they're probably not going to want the story stuff. They're going to want a lot of hard statistics.”

“A lot of resources can be spent sometimes at the wrong time, which limits the impact that budget could have….”

EPISODE RESOURCES

Find out about Rights Evaluation Studio’s services https://rightsevaluation.studio/

Connect with Patrick: https://www.linkedin.com/in/patrick-regan-a5725b120/

OECD DAC Principles: https://www.oecd.org/dac/evaluation/daccriteriaforevaluatingdevelopmentassistance.htm

ABOUT YOUR HOST

Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.

With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.

Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.

Work with Aishat: www.bancservices.co.uk

CONNECT

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In this episode of the Nonprofit Bookkeeper, you host Aishat, discusses Financial Sustainability in non-profits. She talks about a two-prong approach to financial sustainability and outlines three actionable steps each for optimizing income and managing costs, all aimed at bolstering your non=profit's financial resilience.

KEY TAKEAWAYS

Financial sustainability in non-profits is about securing the resources needed to carry out the mission over the long term.

Being a going concern is not the same as being financially sustainable

Diversifying income streams and developing grant writing expertise can enhance financial sustainability.

Reviewing expenses, building reserves, and engaging in long-term planning contribute to financial sustainability.

BEST MOMENTS

"Financial sustainability is like having the proper training, nutrition, and pacing strategy for a runner to complete the race."

"Say thank you to your donors by acknowledging them and keeping them up to date on the impact their grant is making."

ABOUT YOUR HOST

Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.

With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.

Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.

Work with Aishat: www.bancservices.co.uk

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In this episode, we delve into the world of CICs with Fiona Sanders, Co - Director of Miss S, a seasoned expert in CIC accounting. Despite navigating her own health challenges, Fiona's passion for socially conscious finance shines through as she offers invaluable advice for those operating within or considering starting a CIC.

KEY TAKEAWAYS

• CICs are intended to trade and generate income, while charities rely more on grants and donations.
• When applying for grants, read the questions carefully and answer them directly, and make sure to include all necessary costs in the budget
• Engaging bid writers may not always lead to success, as a personal approach is often needed for smaller organizations

BEST MOMENTS

“… If they're looking to make money themselves, then a CIC is not the right entity for them. They should be looking at a regular limited company....”

“… CICs are really a halfway house between a commercial limited organization, limited company and a charity,”

EPISODE RESOURCES

Find out more about MISSS https://misss.co.uk/

Join the CIC hub https://www.facebook.com/groups/562645194719543

Connect with Fiona: https://www.linkedin.com/in/fiona-sanderson-misss/

ABOUT YOUR HOST

Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.

With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.

Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.

Work with Aishat: www.bancservices.co.uk

CONNECT

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In this inspiring episode of "The Nonprofit Bookkeeper," I sit down with the passionate and driven Denise Stephenson, a lawyer turned advocate who is dedicated to uplifting young black and brown children through her charity, Reach Out to Kids (RO2K). As co-founder of Emancipated Run Crew as well, she's making strides in creating inclusive spaces within the running community.

Denise story of resilience, determination and proving doubters wrong by becoming a successful lawyer and later pivoting to full-time charity work, is a must listen! Through RO2K, Denise is breaking barriers & paving the way for future generations. She highlights the invisible work that goes on behind the scenes to support the mission of RO2K.

This episode is more than an insight into non-profit management; it is about advocacy, breaking stereotypes, and changing narratives—one child at a time!

KEY TAKEAWAYS

• Funding is a major challenge for non-profits, and multi-year funding is needed for sustainable growth.
• The application process for funding can be time-consuming and challenging, especially for smaller organizations.
• Partnerships with corporate organizations can provide valuable funding and support.

BEST MOMENTS

“… we had a shoot, a student showcase, where we were celebrating the work that the students did for the. Mayor of London's challenge, seeing those children, those young people get up and talk in front of an audience of people, whereas when they started, some of them were SCN students. They wouldn't even talk. When we first got them, they would not talk. They wouldn't put their hands up. They wouldn't volunteer to mentor. They wouldn't do any of it. At the end of it, they were standing on a stage. Presenting their ideas in a very professional, passionate way, I almost cried...”

EPISODE RESOURCES

Find out more about RO2K https://www.linkedin.com/company/rok-reach-out-2-kids/

Connect with Denise: https://www.linkedin.com/in/denisestephenson2/

ABOUT YOUR HOST

Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.

With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.

Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.

Work with Aishat: www.bancservices.co.uk

CONNECT

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In this episode, your host, Aishat discusses the differences between cash accounting and accrual accounting in non-profit financial management. The benefits and drawbacks of each method are explored and she concludes with three things to consider when deciding on which is appropriate for the non-profit

KEY TAKEAWAYS

• Cash accounting records income and expenses based on the exchange of cash,
• accrual accounting records them based on entitlement and incurring of expenses.
• Accrual accounting provides a more holistic financial picture.

BEST MOMENTS

“… One records transactions on exchange of cash and the other records transaction on entitlement and….”

“… the larger and more established non-profits will benefit from the holistic view provided by accrual accounting.”

EPISODE RESOURCES

Charity reporting and accounting: the essentials November 2016 - GOV.UK (www.gov.uk)

ABOUT YOUR HOST

Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.

With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.

Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.

Work with Aishat: www.bancservices.co.uk

CONNECT

https://www.instagram.com/npbookkeeper/

https://www.tiktok.com/@npbookkeeper?lang=en

In this episode, I speak to Sarah Broad, the COO of NPC, a charity think tank. We discuss the dynamic role of a charity COO, the challenges of juggling multiple responsibilities and the need for a strong support network. We also delve into importance of the CEO- COO relationship and Sarah emphasizes the value of attitude and constant learning in finance roles and offers tips for acknowledging the work of support teams.

KEY TAKEAWAYS

• Building a strong support network is essential for COOs, including peers in similar roles and professionals from different backgrounds.
• The relationship between the CEO and COO is crucial for the success of a charity, with open communication and complementary skills.
• Qualifications and experience are both important in finance roles, but attitude and a willingness to learn are the most valuable qualities.
• Acknowledging the work of support teams is essential, and success can be measured by what is not being talked about.

BEST MOMENTS

“… the measure of success in an operations team is what people are not talking about...”

“… having the right attitude to think about how you apply your learning on a day-to-day basis. It is what's really valuable.”.

“…having an external network is absolutely critical …”

EPISODE RESOURCES

Find out more about NPC https://www.thinknpc.org/about-npc/

Connect with Sarah https://www.linkedin.com/in/sarah-broad-887b09b/

Charity Finance Group: https://cfg.org.uk/

ACEVO: https://www.acevo.org.uk/

ABOUT YOUR HOST

Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.

With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.

Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.

Work with Aishat: www.bancservices.co.uk

CONNECT

https://www.instagram.com/npbookkeeper/

https://www.tiktok.com/@npbookkeeper?lang=en

In this conversation with Pal Sehmi, the founder of SPIRiT U.K. Managed Services, he shares the importance of IT and cybersecurity for non-profits.

Pal also clarifies the common misconceptions between data security and cybersecurity, offering insights into creating a secure yet accessible work environment amidst the rise of remote working within non-profit organizations.

Our conversation also delves into the use of AI in organizations and its potential impact on humanitarian work.

KEY TAKEAWAYS

• IT and cybersecurity are crucial for the efficient functioning of non-profits.
• Data security and cyber security are different but interconnected aspects of protecting an organization's information.
• Take action on suspicious activity and implement cybersecurity measures to protect sensitive data.
• Consider the use of AI in organizations, but ensure it is used in a measured and controlled manner.
• Stay up to date with technology and cybersecurity considerations for non-profits.

BEST MOMENTS

“… have an approach to your technology that gets the maximum value out of it, without it falling too far behind the curve....”

“… Another really interesting area is voice. So if I can record your voice for about 10 or 15 seconds, I can make a phone call, make it sound like it's coming from you.”.

“We just want to get the work done. And then they create this whole shadow IT, don't tell anybody about it. …”

EPISODE RESOURCES

Find out more about SPIRiT https://spirituk.com/

To work with SPIRiT contact https://www.linkedin.com/in/chris-austin-bb068a33/

ABOUT YOUR HOST

Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.

With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.

Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.

Work with Aishat: www.bancservices.co.uk

CONNECT

https://www.instagram.com/npbookkeeper/

https://www.tiktok.com/@npbookkeeper?lang=en

In this episode, your host, Aishat delves into the topic of fund accounting for non-profits, emphasizing the importance of recording income and expenditure by fund.

Using the scenario of a new company receiving income from various sources, Aishat explains the concept of fund accounting and the classifications of funds. She distinguishes between restricted and unrestricted funds, and also discusses designated funds or reserves.

KEY TAKEAWAYS

• Fund accounting treats each source of income as a separate pot of money.
• Restricted funds come with specific requirements and limitations on how the money can be spent, while unrestricted funds have no such restrictions.
• Designated funds or reserves are unrestricted funds set aside for a specific purpose in the future, providing flexibility for non-profit organizations.

BEST MOMENTS

“… specifications as to how the funds could be spent are deemed to be restrictions on the fund.”

“… restricted funds are any donations or grants that come with restrictions attached to it.”

“… Unrestricted funds are the opposite of restricted funds.”

ABOUT YOUR HOST

Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.

With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.

Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.

Work with Aishat: www.bancservices.co.uk

CONNECT

https://www.instagram.com/npbookkeeper/

https://www.tiktok.com/@npbookkeeper?lang=en