Community Foundation Announces Another Free Workshop for Nonprofits

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Thanks to the generous sponsorship of Dowdy & Osborne, LLP, the Outer Banks Community Foundation is offering a free seminar on Financial Management for Nonprofits on Friday, October 21 at the UNC Coastal Studies Institute.

Led by Mig Murphy Sistrom, CPA, the full-day course will run from 8:30 am until 4:00 pm at the CSI facility in Wanchese. The workshop is offered at no cost to any nonprofit organization serving the Outer Banks. Registration closed on Monday, October 17. Please contact Shirley to check on availability at 252-261-8839 if you are interested in attending.

“We are so excited to bring Mig to the Outer Banks to help train our local nonprofits on the basics of financial management,” said Lorelei Costa, Executive Director of the Community Foundation. “I had the privilege of taking this course from Mig several years ago through the Duke Nonprofit Management Program, and it was a career-changer for me.”

Tailored for nonprofit leaders without a fiscal background, the workshop will present an overview of all aspects of nonprofit financial management, including reports, budgets, compliance, and best practices. Ms. Sistrom will teach the basics of cost allocation, balance sheets, revenue and expense reports, tax filings including the Form 990, audits, sales tax, and fraud prevention.

Ms. Costa added: “I cannot recommend this class enough. Any volunteer, board member, or staff member who wants to understand the basics of nonprofit financial management will benefit from this workshop.”

The seminar will be a casual, interactive discussion of practical and relevant topics, such as check-signing, record-keeping, and software considerations. Ms. Sistrom is even soliciting participants’ questions in advance to be sure to address all burning needs.

Teresa Osborne, partner at Dowdy & Osborne and Treasurer of the Outer Banks Community Foundation, said, “We have long been supporters of the Community Foundation and the good that it does for the Outer Banks. Everyone at Dowdy & Osborne is excited to help bring this seminar free-of-charge to our many local, vital nonprofits to help them with best financial practices.”

Space is limited for this workshop, and advance registration was required. A boxed lunch will be provided. If you did not register by the Monday, October 17 deadline, but would like to attend, please contact Shirley at 252-261-8839.

Mig Murphy Sistrom has served on the board of directors for several North Carolina nonprofits, and she regularly teaches courses on nonprofit financial topics through Duke University’s Nonprofit Management Program. She holds a Certificate in Nonprofit Management from Duke, and is a graduate of Leadership America North Carolina. Prior to opening her own accounting firm, Ms. Sistrom served as Director of Finance and Administration for a Raleigh-based nonprofit with a $10-million annual budget. She began her career as a staff auditor at Price Waterhouse LLP, and also served as audit manager at a large North Carolina firm, providing accounting, consulting, audit, and tax services to nonprofit organizations. Ms. Sistrom holds a Masters of Accounting and a BS degree with Highest Honors in Business Administration from the University of North Carolina at Chapel Hill.