Running a nonprofit comes with unique financial challenges, especially when it comes to managing cash flow and ensuring long-term stability.
Lisa Morgan, a banker at Midwest BankCentre, shares practical strategies that nonprofit organizations can use to stay financially healthy—while keeping their mission at the center. With simple tools and the right banking partner, nonprofits can build a stronger financial foundation.
Key Takeaways:
Start a Business CD with as Little as $1,000
A Certificate of Deposit (CD) is a safe way to earn interest on reserve funds that don’t need to be accessed immediately.
Open a Money Market Account for Liquidity
This option offers higher interest than a standard savings account while keeping funds accessible for operational needs.
Establish a Line of Credit for Emergencies
A line of credit provides flexible access to funds in case of cash flow gaps or unexpected expenses.
Partner with a Bank That Understands Nonprofits
With experience serving over 1,000 nonprofit organizations, Midwest BankCentre offers tailored financial solutions to support your mission.