Questions around budgets, formatting budgets, and presenting budgets and financials motivated The Presser Foundation staff to put together a Next Movement virtual event on that topic. While we know at the Foundation that not all funders request financial information in the same format or have them presented in the same way, we believe that even a basic session detailing what we look for in budgets and financials might help guide/inform/remind nonprofit board and staff members of what’s most helpful when preparing and presenting these documents.
More than 40 people attended the virtual event, representing a wide range of budget sizes, types of music organizations (performing, presenting, educating), and roles (staff and board). The Foundation staff gave a brief background about The Presser Foundation, shared relevant context, and then talked through preparing financial documents (using examples of an operating budget and a project budget) and presenting financial documents.
One important note that Foundation staff stressed throughout the webinar – communication is key. If there are discrepancies, or inconsistencies, or significant differences in financial documents from last year compared to a projected budget for the upcoming year, or any other thing worth noting, it’s vital to address those issues/differences with the Foundation staff. Whether that be through notes at the bottom of a budget, a phone call, or a discussion during a site visit, being open with the Foundation helps us better understand your organization’s budget or financials position/situation. The more communication, the more the relationship between the Foundation and nonprofit is strengthened.
However, that takes trust. At The Presser Foundation, we hope that our open-door policy, our commitment to convenings such as Next Movement, and our willingness to provide advice when needed shows that we’re dedicated to leveling (as much as possible) an unequal power dynamic and building a strong relationship.
So, while this Next Movement focused on Budget and Financials, it also spoke to the Foundation’s desire to be a helpful, engaged partner. We look forward to continuing the Next Movement series, as well as centering trust and equity in all of our grantmaking processes and practices.
