Online Financial Health Assessment for Arts & Culture Nonprofits
NFF has partnered with the Cultural Data Project (CDP), an emerging national standard that gathers reliable data on the arts and cultural sector, to create a free online analysis and reporting tool. Our Financial Health Analysis (FHA) is an in-depth look at an arts organization’s financial condition over time. It is available for free to all users of the CDP – arts organizations and funders alike – in the 11 states where CDP operates. View a short video on the FHA below.
This new reporting suite is part of larger efforts by NFF and CDP to bring to the sector comprehensive, uniform and comparable data that can support improved communications and decision-making by arts leaders and their supporters. It is a starting point for dialogue to help strengthen the financial foundation supporting the creation of excellent art. Arts and culture organizations can use the analysis:
- As an annual financial “check-up” for management & board
- To communicate your financial story to funders
- As a training resource for new staff & board members
- To inform the annual budgeting & financial planning process
- To educate program and/or “non-financial” staff about the nonprofit's financial health
The Financial Health Analysis draws on audited financial information available through the CDP and includes a dashboard, multi-year graphs and educational context about your data and its implications. By looking at operating performance, revenue dynamics, full costs, balance sheet health and liquidity, the reports help answer the question: what metrics should we look at and what do they mean for our organization?