Finance: Organizational Financial Health During and After COVID-19
Wednesday May 13, 2020 3:00 pm EST
This pandemic has created a range of fiscal issues and opportunities for all types of organizations. Join us to learn more about keeping your organization financially healthy in the short- and long-term.
Oxygen Masks On
Elizabeth has picked up on many organizations’ eagerness to seize opportunities to help and progress. However, just as airlines remind you to “put your oxygen mask on before helping others,” Elizabeth reminds us that “if you’re not on solid financial footing yourself, you won’t be able to help the sector or the world for very long.” It’s therefore important to prioritize your own organization’s financial health in the short- and long-term. By doing so, you’re helping others, too.
Take Your Time
Relatedly, in order to “put your oxygen mask on first,” Elizabeth recommends taking your time to weigh the major financial decisions you’re making and to prepare accordingly. There’s “pressure to ‘keep up with the Joneses’ by constantly communicating your COVID response externally,” when what’s really needed is diligent financial planning. “Good work takes time,” she reminds us.