The CFO'S Perspective

The People Behind the Numbers: Meet Raphael Irving

At CFO Selections, we may work in numbers… but we’re in the business of people. Because behind every financial report is a person making hard decisions, and behind every engagement is a human-to-human connection. In this series, we’re shining a light on those stories — introducing the consultants who guide our clients forward and the leaders who bring those numbers to life.

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Raphael Irving was deep in a collective bargaining agreement with no easy answers. He was at a Portland-based Federally Qualified Health Center (FQHC) that was facing a budget deficit, and every decision carried weight.

“When you’re in those rooms,” he says, “you know what you decide is going to affect other people’s lives.”

Payroll made up most of the budget. There wasn’t much room to maneuver.

“Most nonprofits are 65% to 80% payroll,” he explains. “So, when cuts happen, it’s people who feel it first.”

Some nights, the work followed him home.

“There were times I couldn’t sleep,” he says. “Because I knew if I could figure this out, it meant somebody got to stay.”

The work led to a strategic plan that allowed the organization to move forward. For Raphael, that’s always been the point.

“Money is the oil that makes the engine run,” he says. “If you understand the finances, you can keep the mission moving.”

Topics: Non Profit Organizations CFO Leadership Budgeting This is Us

People Behind the Numbers: Meet Patrick Monaghan

At CFO Selections, we may work in numbers… but we’re in the business of people. Because behind every financial report is a person making hard decisions, and behind every engagement is a human-to-human connection. In this series, we’re shining a light on those stories — introducing the consultants who guide our clients forward and the leaders who bring those numbers to life.

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Pat Monaghan will tell you that the highlight of his accounting and finance career isn’t where he’s worked, but who he’s worked with along the way.

Getting to know the people behind the operation

On a typical day at Lighthouse for the Blind in Fort Worth, Patrick Monaghan could walk through the manufacturing floor and find himself in conversations that had nothing to do with accounting. “I’d talk with the workers, get to know them and their personalities,” he says. “And enjoy the great sense of humor they brought to their work.” Patrick wasn’t just a finance leader moving through a cost center. He was part of a community. This moment says more about Patrick’s career than any job title could.

For more than three decades, finance has been his way of showing up for people: students, parents, faculty, adoptive families, volunteers, blind workers, attorneys, and nonprofit boards. He manages budgets, sure. But his real work lives in the relationships he builds.

Topics: Accounting Non Profit Organizations Success Stories Leadership This is Us Change Management Interim CFO Transition

The People Behind the Numbers: Meet Rebecca Alderfer

At CFO Selections, we may work in numbers… but we’re in the business of people. Because behind every financial report is a person making hard decisions, and behind every engagement is a human-to-human connection. In this series, we’re shining a light on those stories — introducing the consultants who guide our clients forward and the leaders who bring those numbers to life.


When Connection Is the Strategy

Ask Rebecca Alderfer what she loves most about her role, and she doesn’t mention policy (even after two decades working at the intersection of strategy, social impact, and public policy). What lights her up is connection, forging new partnerships, linking strategies across silos, and aligning people around shared goals.

“It’s really that chessboard,” Rebecca says. “How can we all support each other? Where can we leverage resources and opportunities that already exist? How do we grow the platform together, so that everyone benefits?”

That mindset has defined her career from the White House to the frontlines of maternal health in Colorado. As CEO of the Colorado Perinatal Care Quality Collaborative (CPCQC), she’s no longer advising from the sidelines. She’s leading the charge, helping the organization grow from a startup into a statewide force for improving maternal and infant health.

Topics: Governance Non Profit Organizations Success Stories Planning Leadership Growth This is Us Change Management Transition Company Spotlight Strategy client spotlight

Preparing for Potential Federal Grant Freezes: A Guide for Nonprofit Organizations

With the recent issuance of OMB (Office of Management and Budget) Memorandum M-25-13 calling for the pausing of financial assistance for programs and activities implicated by the President’s DEI-focused Executive Order (E.O. 14151), many nonprofits are trying to evaluate the financial impact that may result. While all of this may end up in court, or require additional legislative action, nonprofit organizations that rely on federal funding would be wise to take proactive steps now to assess and mitigate potential risks that these kinds of policies could create in the coming weeks and months. To safeguard operations in response, organizations should follow these key steps as soon as possible:

Topics: Non Profit Organizations

Balancing the Demands of a Nonprofit CFO Role

The list of skills and experience necessary to be a successful nonprofit CFO is long and varied, which can make it seem like a Goldilocks type of situation at first glance. And yet, maybe that isn’t a bad thing! In our line of work, we typically call it something else: balance.

Let’s discuss some of the ways in which this kind of balance is not only helpful for a nonprofit CFO, but critical to their success.

Topics: Non Profit Organizations CFO CFO Responsibilities

How do Nonprofits Manage Cash Deficits?

As nonprofit costs continue to rise organizations that regularly operate with minimal or moderate budgets are finding that they are in a cash negative position. How they respond now will determine what the future holds for their missions, staff, and the people they serve.

Find out more about what you can do to increase cash flow to keep your organization’s programs and initiatives running as intended:

Topics: Non Profit Organizations Cash Flow

Understanding Nonprofit Hiring Trends

Originally published: Dec 20, 2022
Updated: April 8, 2024

According to the Society for Human Resources Management (SHRM) the U.S. job market has finally ushered in positive employment growth after several years of decline. However, growth is occurring far slower than employment analysts would have liked to see. In the nonprofit space, hiring remains challenging, especially within more skilled, technical, and senior-level roles.

How should nonprofit organizations overcome today’s hiring challenges?

Topics: Non Profit Organizations Hiring

What Does a Nonprofit CFO Do?

Our team is used to discussing what’s included in a CFO’s job description. But this type of conversation usually centers around the commonalities that unite all CFO roles, not the nuanced differences for a specific industry or type of organization. But when talking about what a CFO for a nonprofit does, there are some unique elements to the role that are important to understand.

Topics: Non Profit Organizations CFO