Financial Leadership Cohort for Capacity Building Initiatives

Financial leadership can be challenging and sometimes scary. You may not always feel like you have the knowledge or tools to confidently lead your organization’s financial management. Yet organizations that thrive are those whose leaders approach finance with confidence, even if they don’t have all the answers. The goal of the Financial Leadership Cohort is to develop the financial leadership capacity needed for nonprofits to be sustainable and financially healthy.

Cohort Details

Why participate in the Financial Leadership Cohort?

Through cohort sessions, you will become more knowledgeable, confident, and savvy about nonprofit finance. We’ll target results for your organization’s needs and help develop a culture of financial understanding at your nonprofit – and within the sector. You’ll gain:

• Confidence in your ability as a financial leader
• Increased knowledge of nonprofit financial management concepts
• Progress on self-identified outcomes
• Improvement in your organization’s financial position

Each cohort is limited to 18 participants.

What you’ll receive:

• 6 monthly three-hour online learning sessions on topics including understanding business models, communicating financial information, and building relationships with staff and board around finance
  • All the sessions will be held virtually using Zoom
• Support and guidance to develop financial management tools (dashboard report, cash flow, trend analysis)
• A peer network for support and sharing
• One-on-one coaching with Propel Nonprofits’ finance experts

Eligibility & Deadlines

The ideal candidate

• Executive Director or senior staff member in the role of managing your nonprofit 501(c)(3) organization’s finances without a formal finance background
• From a nonprofit organization based in Minnesota (or primarily serving Minnesota communities) with a budget size between $300,000 and $3,000,000
• In a staff role where you have an opportunity to work with your organization’s board of directors and/or finance committee
• Eager to grow professionally and use new tools to bring a positive change to your nonprofit and the sector

Cohort Options

Two cohort groups will be selected to begin in January of 2024. The cohort groups will be open to Executive Directors and senior staff members of nonprofit organizations both located in and primarily serving communities anywhere in Minnesota.

• Tuesday Cohort Group – Training sessions for this group will be held from 9 am – 12 pm on the following dates (Tuesdays) January 23^rd, February 20^th, March 19^th, April 16^th, May 14^th and June 4th
• Wednesday Cohort Group – Training sessions for this group will be held from 9 am – 12 pm on the following dates (Wednesdays) January 24^th, February 21^st, March 20^th, April 17^th, May 15^th, June 5^th

Cohort selection timeline and process

Everyone interested in participating in a Financial Leadership Cohort group is required to complete the online intake form. Propel staff will review the information provided in the form to ensure participant goals are aligned with the content of the training sessions.

• Intake process period for CBI Target and CBI Pohlad organizations
• Intake form deadline is November 3^rd at 5 pm
• Cohort participation will be confirmed or declined by November 21st
• Cohort sessions begin January 23rd for the Tuesday group and January 24th for the Wednesday group.

Cost

This cohort learning experience is valued at $2000 per participant. The cost of participation will be covered for leaders of nonprofit organizations participating in Propel Nonprofits’ Capacity Building Initiatives sponsored by the Target Foundation or the Pohlad Foundation.

Questions

Contact Sara Wessling, Training Director at swessling@propelnonprofits.org or 612.249.6675.