The SC Arts Alliance, along with funding partners Gaylord & Dorothy Donnelley Foundation, and the SC Arts Commission, announces a webinar series for arts organizations focused on financial best practices for moving beyond the coronavirus. As South Carolina begins to slowly turn back “on” local economies, arts organizations are left wondering how they can prioritize fiscal sustainability through the continuing economic crisis, all the way through to being prepared for events that may have similar impacts in the future.
Additional webinars around marketing and other areas are also being developed and will be announced when available.
SCAA has engaged FMA Consultants, a leading nonprofit financial consulting firm that has already been coaching SC arts nonprofits through the SCAA’s “Stronger Bottom Line” program, to conduct a two-part webinar series for arts groups across the state, at no charge to the organization (thanks to our funding partners).
Each 90-minute webinar will be hosted twice, with space limited to 50-60 participants per webinar to allow for manageable groups and Q&A.
Details and registration links are below for each webinar. Links to join webinar will be emailed out before the start of the webinar to those who have signed up.
Webinar Summaries
Session 1: Understanding Financial Heath & Planning Ahead in a Time of Uncertainty
Option 1: April 29 @ 2:30pm // Option 2: May 5 @ 2:00pm
In these unprecedented times, nonprofit organizations are being challenged in a variety of ways, including shifting staffing structures, sudden changes in service delivery or capacity, and a potential loss of revenue. These changes put the financial health and resilience of nonprofits at risk as they navigate the current reality while staying mission focused. This webinar will address some of the key areas organizations should focus on and provide tools they can use in the short term including:
- Grounding financial decision-making in your values.
- Understanding your current financial position and what current resources are available.
- Levers to increase resources available for immediate response
- Tools for cash flow for the short term.
Session 2: Scenario Building & Contingency Planning
Option 1: May 12 @ 1:00pm // Option 2: May 15 @ 1:00pm
While nonprofit organizations cannot predict the future, they can begin to anticipate how they would adjust to a variety of major and minor shifts in their original strategic plans and budgets so that they are equipped to make difficult, complex decisions if a financial or human capital crisis arises in the months ahead. Building potential scenarios and back up plans can give leaders, their staff, boards and funders the confidence they need to press on and continue to deliver on programs. This webinar will address:
- Guiding principles for successful scenario planning processes.
- Participatory processes organizations can use to weigh options, implications, and trade-offs.
- Questions to consider when accounting for key revenue and expense drivers.
- How to use tools available to undertake scenario planning.
