Video: Telling Your Organization's Financial Story



Ashley Franks [00:00:05] Today, I'm here to share with you my perspective on telling your financial story, which, as we all know out in the field, telling your financial story is critical to the success of your nonprofit.

Ashley Franks [00:00:14] But first, we must define what is a financial story. It is the structure, content, and goal of your story. It's also about transmitting data to create meaning and inspire action.

Ashley Franks [00:00:26] There are three key components to effective financial storytelling. One, answering three fundamental questions. Those are: Who is my audience? What are my areas of opportunity and my challenges? And then how will I design the actual financial story?

Ashley Franks [00:00:42] The second is building trust with your audience. You must do that by communicating data with them, both internally and externally.

Ashley Franks [00:00:50] And then the third is defining your call to action.

Ashley Franks [00:00:53] Tools and strategies for financial storytelling. First, identify the data you'll need to gather. That can include past historical data like 990s, annual reports and past budgets, or also future data like your future budgets and projections. You can also look at program metrics.

Ashley Franks [00:01:10] Then you want to be able to take stock of your financial needs. What do you need in both the short and the long term to operate a successful organization? And then you also want to be able to take stock of your needs outside of the financials, and your strengths outside of the financials.

Ashley Franks [00:01:27] Some key takeaways and next steps for you and your nonprofit. Articulate the main components of your financial story. Identify the data you'll need to gather. And define your call to action plan.

Ashley Franks [00:01:39] Thank you so much for your time today.