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When entering a period of uncertainty or crisis—prior to making critical decisions—nonprofit leaders turn to financial analysis as a key component of their decision-making process. Starting with a clear understanding of their baseline financial strengths and weaknesses, organizations then must adjust their strategy and related budgets based on assessed risks and current assumptions. We will discuss how organizations can stay flexible, incorporating contingency planning, scenarios and other similar concepts into their annual budget in an attempt to navigate a changing environment.
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