What You May Not Know About Running a Nonprofit with Stephanie Skryzowski

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In a recent episode, Shannon is joined by Stephanie Skryzowski and they explore the complexities of managing a nonprofit, focusing on overcoming a scarcity mindset and optimizing fundraising efforts.

Stephanie highlighted a common issue among nonprofits: the scarcity mindset. Many nonprofits feel compelled to minimize their administrative expenses to appear mission-focused, often resulting in inadequate staff benefits and lower salaries. “Nonprofits often under-ask in fundraising,” Stephanie noted. “Being fearful of appearing greedy limits their financial potential and stunts growth.”

Conversely, an abundance mindset encourages nonprofits to think big. Stephanie shared an example of a successful nonprofit she’s worked with that secures large grants by framing their mission as a significant challenge. “Their CEO talks about their $50 million problem rather than just asking for immediate needs,” Stephanie explained. “This big-picture thinking invites donors to join an ambitious journey.”

Regular communication and transparency are paramount for building donor trust. Stephanie emphasized the importance of keeping donors informed—not just when asking for money. Sharing updates, successes, and even challenges keeps donors connected to the mission. “Transparency fosters stronger relationships,” Stephanie said. “Donors are more inclined to contribute when they see tangible results.”

For those considering starting a nonprofit, Stephanie advises evaluating the existing landscape first. Many established nonprofits could benefit from your support, time, or financial resources. “Ask yourself—can I support an existing organization effectively?” Stephanie suggested. “There’s immense value in reinforcing established missions rather than starting from scratch.”

Stephanie also recommends fiscal sponsorship for unique projects. Fiscal sponsors allow new initiatives to operate under their nonprofit umbrella, handling administrative tasks and financial management, which lets the project focus on its mission.

Stephanie advocates for rigorous cash flow planning. By forecasting income and expenses, nonprofits can prepare for lean periods, avoid financial crises, and make informed strategic decisions. Her firm, 100 Degrees Consulting, offers a free cash forecasting template to help nonprofits manage their finances effectively. “Cash flow planning is crucial for managing finances and ensuring sustainability,” Stephanie asserted.

Balancing passion with financial prudence is key in the nonprofit sector. Embracing an abundance mindset, maintaining transparent donor communication, supporting existing nonprofits, and leveraging cash flow planning can help nonprofits thrive. For more resources, visit 100 Degrees Consulting to explore tools designed to ensure nonprofit success.

Stephanie’s insights provide invaluable guidance for nonprofit leaders striving to overcome financial challenges and achieve long-term sustainability in their missions.

Stephanie Skryzowski is a visionary Chief Financial Officer who helps nonprofit leaders better understand and use their numbers to make smart decisions to grow their bottom line and their impact. She is the Founder and CEO of 100 Degrees Consulting which provides financial strategy and bookkeeping services to nonprofits around the globe.

LinkedIn: https://www.linkedin.com/in/stephanieskryzowski/

Instagram: https://www.instagram.com/stephanie.skry

Business Instagram: https://www.instagram.com/100degreesconsulting/ 

Website: https://100degreesconsulting.com/ 

Stephanie’s forecasting template: https://100degreesconsulting.com/cash 

List of the best tools for nonprofits: https://100degreesconsulting.com/tools 

What you'll hear in this episode:

05:23 Fostering long-term vision for impactful results.
07:57 Nonprofits need to engage donors for success.
10:51 Begin by supporting existing impactful nonprofits.
14:42 Start small, then commit to 501c3.

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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.