While nonprofits are busy providing much-needed services to their communities, one critical member of the staff makes certain that they are fiscally sound, sustainable, and in compliance with public regulations: the Chief Financial Officer.
With the heightened challenges of late, sound financial leadership is crucial to organizations now more than ever. On a nonprofit team, this person might be a CFO, an internal accountant, a bookkeeper, or a fiscal manager. In any case, this award will be given to the staff person who has made a financial difference to his or her agency either in creatively working through a time of financial difficulty or in taking advantage of a financial opportunity.
The CFO Award will focus on how the financial manager has enabled his or her agency to continue or improve its programs through sound financial management practices. Specifically, the CFO, accountant, or bookkeeper has provided excellence in these four areas:
- Being a steward for the agency by preserving its assets, minimizing risk, and making certain the books are correct
- Serving as an operator, running a tight finance operation that is efficient and effective, and adapting the agency's financial model as necessary
- Being a strategist, helping to shape the overall strategy and direction of the agency, including giving a financial perspective on innovation and growth
- Serving as a catalyst, instilling a financial approach and mind set throughout the agency to make certain that the nonprofit performs well as a whole
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Finalists Awards:
The category winner will receive $5,000, which will be gifted to the organization.
$1,000 will be presented to each of the two finalists. This amount will be gifted to the organization.
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Requirements for the CFO of the Year Award:
-Must be an organization that has been a 501(c)(3) for at least three years, is a member of CNEMT, and provides significant services to the Middle Tennessee area.
-Local chapters of national organizations may apply, provided the chapters are locally managed and have financial information available on a local basis.
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Previous Winners and Finalists:
-Previous winners of this award are not eligible to reapply for three years. (For example, if the agency was a winner in 2022, the agency is eligible to re-apply in 2026.)
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Please note: This application is a step-by-step process and requires you to pull together much information. You will want to set aside at least 30 minutes to complete it. Otherwise, your information will not be saved until the application has been fully submitted.