Cultural Data Project partners with Nonprofit Finance Fund for Financial Health Analysis
Financial Health Analysis (FHA) is a suite of financial reports produced as a collaborative effort of Nonprofit Finance Fund and Cultural Data Project with support from the William Penn Foundation. The FHA is a free tool for arts and cultural organizations participating in the Cultural Data Project and is part of larger efforts by NFF and the CDP that seeks to bring to the sector comprehensive, uniform and comparable data that can support improved communications and decision-making by arts leaders and their supporters.
Arts and culture organizations can use the analysis in any of the following ways:
- As an annual financial “check-up” for review at management and board levels
- To communicate your financial story to funders
- As a training resource for new executives and board members
- To inform the annual budgeting and financial planning process
- To educate program and other “non-financial” staff about the organization's financial health
The Financial Health Analysis draws on 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?