Replenishing Reserves
Tuesday, May 4, 2021 | 1:00 p.m. - 2:00 p.m.
Presenter: Leslie D. Irby, CFP®, AIF®, Relationship Manager | Vice President
Description: Reserve funds are important to the operation of a non-profit for the stability and flexibility they can provide. Adequate reserve levels will help sustain the organization through potential economic downturns and unanticipated changes in revenue, expenses, or mission. Building a reserve fund, or replenishing an existing fund that may have had drawdowns, requires two key actions by the senior leadership team. First, is a detailed assessment of “normal” revenue and expenses with a focus on quantifying risk to future revenue and prioritizing reductions in expenses when financial stress occurs. Second, is ensuring that an allocation to reserve funds is a formal part of the annual budgeting process. This session will provide specific recommendations for how to accomplish these vital actions.
Learning Objectives:
1. Learn how to create the key list of questions that directly apply to your organizations revenue and expense analysis.
2. Learn how to create a Reserve fund drawdown timeline to determine the target size of a reserve fund and how long it may last.
3. Recognize how adding an annual budget line item for allocation to reserves can help you replenish reserves as well as be a prudent part of planning toward helping your non-profit manage through future financial stress.
This event has been reviewed for CPE and CAE. If you would like to receive your CPE or CAE for this event, please email hq@far-roundtable.org
FAR is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. Field of Study: TBD Program level is basic – update. There are no pre-requisites nor advanced preparation. It is Group-Live delivery method. Sponsor ID: 109395
FAR is a CAE Approved Provider. Program(s) will be evaluated monthly to meet the requirements for fulfilling the professional development requirements to earn or maintain the Certified Association Executive credential. Every program that we offer which qualifies for CAE credit will clearly identify the number of CAE credits granted for full participation, and we will maintain records of your participation in accord with CAE policies. For more information about the CAE credential or Approved Provider program, please visit www.asaecenter.org/cae.
For more information about this educational program, please contact the FAR office at: 1325 G Street NW, Suite 500, Washington, DC 20005 or email (hq@far-roundtable.org).
FAR Headquarters
11709 Bowman Green Drive
Reston, VA 20190
far-roundtable.org
HQ@far-roundtable.org
571-392-9919 (phone)
