Jul 29 ā¢ General discussion
š Succession Planning for Non-Profit Finance Leaders
Leadership transitions are inevitableābut they shouldn't disrupt your mission.
Still, over 60% of non-profits lack a formal succession plan, especially in finance roles like CFO, Controller, or Finance Director.
This week, weāre diving into why succession planning mattersāand how you can start building yours today.
Why It Matters:
Your finance leader likely:
- Oversees compliance + audits
- Manages grant + donor reporting
- Holds critical financial/operational knowledge
š If they left tomorrowā¦ would you be ready?
5 Key Steps to Start:
- Identify Critical Finance RolesMap out essential positions for operations + strategy.
- Document Core ResponsibilitiesInclude reporting cycles, fund accounting, audit prep, and key systems/logins.Pro Tip: Create a āFinance Playbookā and update it quarterly.
- Assess Talent & Train InternallyCross-train team members or external partners.
- Create an Emergency Transition PlanEnsure temporary coverage to avoid disruption.
- Review AnnuallySuccession plans should evolve with your team and tools.
Whatās at Risk Without a Plan:
- Audit issues
- Missed grant deadlines
- Loss of funder trust
- Staff burnout + turnover
ā
Quick Win:
Document your monthly close process. Itās one of the simplestāand most overlookedāways to prepare for transitions.
š¼ Need help?
We offer:
- Succession Planning Consultations
- Finance Department Reviews
- Interim CFO/Controller Services
š
Book a Free 30-Minute Discovery Call
š© [email protected]
Your mission is too important to be paused by turnover. Letās build your plan together.
ā Smith CPAs & Associates
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š Succession Planning for Non-Profit Finance Leaders
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