All the Way to the Bank
The Stevens Group, commissioned by the Otto Bremer Foundation, published All the Way to the Bank: Smart Money Management for Tomorrow's Nonprofits in September. The 115-page book is available by writing to 570 Asbury Avenue, Suite 207, Saint Paul, Minnesota 55104.
Authors Susan Kenny Stevens and Lisa Anderson provide an excellent overview of financial management tools and concepts. For example, the book contains sample income and expense statements, balance sheets, cash flow projections, and bank reconciliation forms. A fifteen-page glossary explains finance terms in plain language. Chapters on shopping for an auditor, applying a bank loan, improving cash flow, and investing surplus cash are written concisely and clearly. The book seems especially useful for start-up groups or younger organizations that are still establishing financial management systems. However, there is much to learn for seasoned managers, such as Stevens' "Early Warning Signs of Financial Trouble," and "Seven Characteristics of Financially Healthy Nonprofits." The Stevens Group is consulting firm specializing in financial management. During the 1990s the group has expanded its arts consulting and is currently working on cultural projects for the Ford, Mellon, and Minneapolis foundations.