Cash Projections 101: Planning for Crisis
Aug. 30 - Aug. 31, 2022
9:00 am - 12:00 pm
Virtual Workshop via Zoom
Individual Members: No Additional Fee
Organizational Members: No Additional Fee
Non-Members: $55
About this event
Will your organization have enough cash to cover payroll next month? With the past year’s trying financial reality, our sector’s leaders have had to be agile and adaptive in our financial responsibilities. In this two part series, we will learn how to develop a cash projection spreadsheet that can be updated regularly to look for landmines and dedicate a safe learning space to discuss and strategize simulated common crisis scenarios in nonprofits. Financial statements are important for board members and leadership to analyze the organization’s historical performance, but cash management is critical for day-to-day financial management, and if we’ve learned anything the pandemic—it’s that even if the future may seem unclear, we always have our day-to-day experience to help inform our path forward. Learning about cash projections is also a wonderful method to get familiar and comfortable with financials because cash projections tend to be a more intuitive way of looking at financial information.
Session I (Tuesday, August 30, 9:00AM - 12:00PM):
Objectives:
- Discover 3 methods of projecting future cash flows: mind dump, budget conversion, and hybrid
- Analyze common differences between an accrual-based budget and a cash projection
- Identify strategies for handling shortfalls
Session II (Wednesday, August 31, 9:00AM - 11:00AM):
Co-Facilitated with Anne King, Executive Director of Ventura College Foundation
Objectives:
- Practice analyzing and identifying strategies for different Nonprofit cashflow crisis scenarios
- Develop a community for processing and analyzing our financial responsibilities as nonprofit leaders
Faculty
Anne Freiermuth
Anne Freiermuth, CPA, is a Principal at Mission Math and has over 20 years of experience working with over 50 nonprofit organizations in the areas of accounting, audit preparation, human resource management, board presentations, and governance policy development.
After graduating with a Bachelor of Arts in Economics from Vassar College in New York, Anne worked for JP Morgan Chase as a credit analyst in Connecticut. Looking for a milder climate and a more personally meaningful career, Anne returned to Los Angeles, where she grew up. She soon began bookkeeping for a tiny nonprofit with a staff office located in the room behind the garage of the board chairman’s home. It was love.
Anne pursued her interest in accounting by taking coursework while working full-time for nonprofit finance departments. She received her Certificate in Accounting from UCLA Extension in 2009. She then became a California-licensed Certified Public Accountant in 2011.
Anne also regularly teaches nonprofit accounting, notably for the California Society of Certified Public Accountants, UCLA Extension, Center for Nonprofit Leadership, The Nonprofit Partnership, American Jewish University and Riordan Leadership Institute.
Anne proudly serves on the board of directors of Los Angeles Conservation Corps.
Anne King
Anne Paul King, executive director of the Ventura College Foundation (VCF), collaborates with the VCF Board to ensure the success of Ventura College students and programs. She’s devoted to opening doors to opportunity by breaking down financial barriers so students can pursue their educational dreams. She believes in the power of a community college education to transform student’s lives and to meet the needs of the Ventura County workforce and economy.
With over 33 years in the nonprofit sector, King oversees the foundation’s $3.7 million annual budget and $29.6 million in assets by building a solid donor base for direct student support, vital resources, and campus initiatives to support student dreams.
Under King’s leadership, the foundation distributed $809,995 in direct support to over 5,000 students during the 2022-2023 academic year and another $1.17 million to 68 Ventura College programs across 16 departments and divisions. Scholarships, the VC Promise, VC Basic Needs, textbook and equipment support and other programs increase access to education, eliminate equity gaps, and empower all students to succeed.
A 20+ year Ventura County resident, Anne Paul King is a dedicated advocate for education. She has worked as a volunteer and professional to help all students strive to reach their educational goals and achieve success. By strengthening the county’s educational assistance opportunities, she has empowered a generation of students to not only achieve educational success but to secure fulfilling careers that strengthen their families and our community.
King was a founding member of the Conejo Schools Foundation. She assisted Holy Trinity Lutheran Church in Thousand Oaks, with multiple fundraising campaigns that have allowed the church to repair, renovate, and add to its facilities while strengthening programs.
King is a Vice-President of the Network for California Community College Foundations, a member of Downtown Ventura Rotary, and an Advisory Committee Member for New Art City Theatre, a nonprofit based in Ventura. She served for five years on CLU’s Center for Nonprofit Leadership, Program Design Committee. She was named the AFP Santa Barbara/Ventura Professional Fundraiser of the Year in 2019.