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The type of finance jobs available for non-profits depend on the actual organization. While most students pursuing a finance degree will focus on major corporations that offer lucrative salaries, jobs in non-profit organizations offer unique benefits that money clearly can’t buy.
Why Work at a Non-Profit?
Most students pursue a financial job, because of the excellent salaries. However, money isn’t the ultimate motivator for all students. Others students are willing to sacrifice to help people in their community. This is important because non-profits are always on the lookout for experienced finance professionals, according to the National Council of Nonprofits. Due to the fact that some non-profits experience a high turnover rate, the career stability is excellent for those who want to stay. However, non-profits tend to be relaxed work environments, so they aren’t well suited for students who want to wear a suit and work in a structured work office. Many professionals enjoy working for non-profits because they offer flexibility, regular benefits and low stress.
Fund Coordinator
A fund coordinator is an excellent entry-level position for recent graduates. They will be responsible for managing and reporting on fund campaigns. This includes gift tracking, prospect research, direct mail campaigns and database and donor stewardship management. They must also develop and implement donation campaigns through traditional sources, such as mail solicitation, and non-traditional resources, such as email and social media. They must track income and oversee the final stages of the donation management lifecycle, such as sending personalized appreciation letters. Every week, they must create and submit fundraising reports that highlight progress toward financial goals. Every month, they must generate monthly reports and reconcile them with senior finance employees. Fund coordinators must have excellent technical skills because they will be maintaining the donor database. Finally, they will assist senior staff with tracking grants, endowments and sponsorships.
Financial Analyst
One of the types of finance jobs available for non-profits is financial analyst. They must oversees various financial responsibilities. For example, they must develop and oversee budgets, cash flows and financing approaches for existing and potential funding sources. Therefore, they must determine operation costs by establishing standard costs and collecting relevant operational data. Alternatively, they must identify fund statuses by analyzing and comparing forecasts with actual financial results. They will guide the guide cost analysis process by providing financial trends and setting and implementing policies and procedures. They must be able to effectively communicate standard policies and procedures in order to ensure accurate and efficient financial operations across different departments. They will also work with management to improve financial statuses by analyzing results, monitoring variances, identifying developments and making appropriate recommending.
Chief Financial Officer
A Chief Financial Officer (CFO) is responsible for all aspects of the company’s financial health and accounting efficiency. CFOs are active members of the executive team and serve as a tactical partner in developing and fulfilling the organization’s financial strategic plan. They work directly with other executives to handle major financial issues, organize current and future strategies and improve financial processes. They must also assist executives with implementing policies and techniques that will ensure continuous business improvements across different team and departments. They must develop tools and systems that will continuously provide vital financial information to executive leadership. Consequently, they must ensure accurate documentation of those processes and provide actionable advice for improvements.
Related Resource: Certified Financial Planner
Without a doubt, they are financial disadvantages, but personal advantages to working at a non-profit organization. In the long run, the type of finance jobs available for non-profits is almost identical to those in the private sector.
