As we approach the end of the calendar year, many organizations are in the process of developing and updating their strategic plans and FY25 budgets. This time is crucial for evaluating your financial resources and internal capabilities, especially when considering how to support your initiatives, address deferred infrastructure costs, and seize new programmatic opportunities.
Key Opportunities to Strengthen Your Organization’s Future
The current financial landscape offers promising opportunities. Stock markets are hovering near all-time highs, with individuals accumulating significant wealth. For nonprofit organizations, this presents a unique chance to connect with donors, cultivate relationships, and secure philanthropic support. If you’ve already been the recipient of generous donations, you now have the means to expand your programs, strengthen infrastructure, and address operational needs that may have previously been deferred. Once financial resources are identified and secured, it’s essential to have a clear vision of how to use unrestricted resources responsibly. This includes both advancing your programmatic work and investing in your organization’s future overall health. The Agency should consider how these funds could be used to assist in meeting the Agency’s mission and goals, such as:
- Expand and improve services, extending your community reach and influence
- Invest in internal capacity and infrastructure, particularly in areas like IT, back-office functions, and outdated systems
- Strengthen recruitment and retention efforts for staff
- Advance equity initiatives
Areas to Focus On
For Health and Human Service Providers, potential areas to focus on based on our review of the strategic plans of New York State funders and current industry trends would include the following:
- Invest in Workforce Development
- Strengthen your workforce through training and development opportunities to retain skilled staff and improve the quality of care.
- Evaluate your pay scales to ensure they are competitive, allowing your organization to attract and retain the right talent.
- Review whether employees are in the right roles, ensuring their skill sets align with the responsibilities and demands of their positions.
- Leverage Technology for Better Service Delivery
- Invest in technology that supports efficient and effective service delivery. Outdated systems hinder your ability to make informed decisions and streamline operations.
- Accurate, real-time data is essential for analyzing trends and making strategic decisions. Adopt technology solutions that enhance data collection and reporting.
- Ensure that your technology infrastructure supports compliance with regulatory and policy requirements.
- Focus on Person-Centered Supports
- Tailor your services to meet the unique needs of individuals in your care. This includes evaluating whether your organization is equipped to scale services and support diverse communities, including children and individuals in crisis.
- Ensure your services are aligned with the goals of enhancing person-centered support, fostering independence, and improving quality of life.
- Engage with Stakeholders
- Stay actively involved in stakeholder engagement activities, work groups, and forums. These conversations can inform future investments and help shape your organization’s strategic direction.
- Preparing for the Future: Succession Planning and Growth
- In today’s complex business environment, organizations must be operationally efficient and prepared for future growth. With many senior leaders, including CEOs and CFOs, leaving their roles at record rates, it’s essential to have a succession plan in place.
- As your organization grows – whether organically or through affiliations, mergers, or acquisitions – the complexity of operations will increase. It’s important to ensure that institutional knowledge is documented and that key employees are ready to step into leadership roles to prevent disruptions caused by unexpected absences.
Needs Assessment by Functional Area
As a first step, we recommend that Management complete a comprehensive needs assessment of the keys areas that are the target of the focus of your goals. The following is a summary chart showing the potential areas to be assessed:
| Assessment Area | High Priority | Medium Priority | Low Priority |
| Management and workforce structure | |||
| Operations and workflow reviews | |||
| Facilities condition and use | |||
| Efficiency reviews | |||
| Automation and internal systems review | |||
| Management Succession planning | |||
| Program Quality Review |
Seek External Consultation for Expertise and Efficiency
No organization has all the expertise in-house. Seeking external consultation can fill resource gaps, provide specialized expertise, and offer an outside perspective on your strategy, management practices, and operational inefficiencies. Organizations should determine what they need to remain relevant and financially viable. Sometimes, that analysis can be hard to do.
The Bonadio Group offers insights and advice on everything from an organizational needs assessment to strategy development so your organization can unlock its full potential.
If you need further guidance or have any questions on this topic, we are here to help. Please do not hesitate to reach out to discuss your specific situation.
This material has been prepared for general, informational purposes only and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. Should you require any such advice, please contact us directly. The information contained herein does not create, and your review or use of the information does not constitute, an accountant-client relationship.
