Many growing and established nonprofit organizations have their focus on achieving their charitable mission, organizing and executing on their programs, and expanding their reach to stakeholders in their market areas. Good financial stewardship is a backbone to support their positive work in the community; the mission and the money.
A functional planning tool is to understand the full cost of your organization’s programs. There are undoubtedly some recurring programs that your organization has a solid foundation and knowledge of the ongoing cost of services; however, it is important to not only budget appropriately for the recurring programs but to also assess what the total costs will be for any new programs planned for the upcoming year. Armed with the information, your nonprofit organization is more readily set to make the case for support (donations, grants, and potentially loans), budget prudently, and make decisions to support the mission critical work in the coming year.
As a financial institution, I look at Flagship Bank Minnesota’s role to support our nonprofit clients with products and services that will make a difference. Nonprofits are an industry we focus on and we have been fortunate to have a long committed history of supporting nonprofits. A number of our directors and employees have significant experience serving on school boards, religious organizations, municipalities, townhome associations, condo associations, and charitable nonprofit organizations. They have done so in their commitment to the community and in support of their personal causes.
Where is the value created from a relationship with a prepared financial institution?
- Relationships – we work to understand you not only for today but for a partnership into tomorrow
In the past year, we have been fortunate to work with some nonprofit organizations on the refinancing of their real estate loans. Our guidance, knowledge, and support allowed them to decrease future costs and structure a facility that worked best within their cash flows and support stream.
- Marketing Support – whether by attendance or sponsorship, our directors and staff have been supporters of nonprofit organizations and our communities.
Flagship Bank has been a sponsor of a number of local events and activities over the years. We have also been known to suggest new and innovative ways our nonprofits can reach their constituents in a crowded marketplace.
- Nonprofit Products – we don’t just change the name of our standard business checking product, we aim to provide competitive products to reduce your costs and/or increase your earnings
We provide an array of deposit services to meet the liquidity and investment needs of your organization.
We have invested in expert people, systems, and industry knowledge that make us a market leader in a field often dominated by very large banks. If your Minneapolis/St. Paul Metro Area nonprofit organization could benefit from a bank that delivers specifically for you, please give us the opportunity to review your banking needs. We are committed to making our clients successful. Your success is our business!
Flagship Bank Minnesota is a Member FDIC and Equal Housing Lender.
