United Way of Greater Philadelphia and Southern New Jersey and Comcast Launch Nonprofit Finance Accelerator
United Way of Greater Philadelphia and Southern New Jersey (UWGPSNJ) and Comcast NBCUniversal in partnership with Nonprofit Finance Fund (NFF) announced the launch of a virtual Nonprofit Finance Accelerator for regional nonprofits.
This inaugural program will provide up to 200 poverty-fighting nonprofits with access to financial management learning opportunities, specialized resources and tools, and customized coaching to help them adapt to a new economic landscape due to the COVID-19 pandemic. The Accelerator will have an intentional focus on supporting organizations led by, and serving, people of color across the region.
Beyond providing essential services and resources to communities, which increasingly need them, the nonprofit sector is a core spoke of the regional economy, representing nearly twenty-five percent of this economy.1 According to a regional COVID-19 impact report, the majority of nonprofit organizations in Greater Philadelphia and Southern New Jersey “are experiencing disruptions to financial and human resources, specifically for funding, cash flow, staff and volunteer absences, and supplies and services provided by partners.”2
“For the past year, nonprofit executives have been in overdrive caring for their communities and staff,” said Kate Houstoun, Managing Director of Capacity Building of UWGPSNJ. “As relief from COVID-19 begins to arrive, many nonprofit leaders are turning their attention back to their organizations’ infrastructure and financial health. This program provides high-caliber expertise and a responsive format to help executives when they need it.”
The Nonprofit Finance Accelerator is designed to address overlapping challenges as nonprofits respond to immediate and ongoing needs, work to keep their teams together and programs open, and reimagine ways of operating to achieve their missions.
“Nonprofits are central to driving economic and social recovery,” said Kristine Alvarez, Director, NFF. “It is particularly important to reach nonprofits led by and serving people of color, who are doing tremendous work in their communities while facing inequitable access to many recovery resources. This partnership with United Way of Greater Philadelphia and Southern New Jersey and Comcast will enable us to offer a range of services and guidance to help nonprofit leaders connect financial strategies with mission goals.”
“We’re proud to join UWGPSNJ to fund the Nonprofit Finance Accelerator with Nonprofit Finance Fund,” said Dalila Wilson-Scott, Executive Vice President and Chief Diversity Officer at Comcast. “The health and wellbeing of our nonprofit community is critical to our region’s recovery efforts and this program aims to help ensure that organizations can continue to serve the pressing needs of our communities – particularly the communities of color that were hardest hit by the pandemic. We appreciate the program model’s convenience and responsiveness, which will be critical to our success during these complex times.”
UWGPSNJ provides a range of capacity building, technical assistance, and leadership development programs to support and strengthen the nonprofit sector. Since 2019, programs have emphasized “co-design,” to better meet executives’ needs, and “co-invested” with other funders, to reach greater scale. Slated to begin in April 2021, the Nonprofit Finance Accelerator aims to make it easier for nonprofit leaders to access technical assistance when they need it. Specifically, emphasizing the importance of diversity in leadership has become a key factor within this program. UWGPSNJ is working to ensure that organizations led by and serving people of color are aware of and able to access this new resource. The program will provide a range of resources, including financial management webinars, coaching from NFF experts, peer-to-peer learning opportunities, and online tools and templates, to a racially diverse group of nonprofit leaders representative of communities most impacted by the pandemic.
With 40 years of experience, NFF is well-equipped to apply its financial management expertise to help nonprofits navigate the COVID-19 crisis. NFF has managed several COVID-19 relief and recovery efforts across the US aimed at preserving critical services for communities that need them most.
Individuals interested in learning more about the Nonprofit Finance Accelerator can visit here for additional information and to register for participation. UWGPSNJ aims to offer the program to more organizations in Fall 2021.
1 “The Financial Health of Greater Philadelphia Nonprofits,” Nonprofit Repositioning Fund, November 2020
2 “Impact of COVID-19 on Nonprofits in the Greater Philadelphia Region By Counties Served,” Mayor’s Policy Office, May 2020