The Wall Street Journal (WSJ) reported that corporate CFOs (chief financial officers) are making the shift to the nonprofit sector.
Executive recruiters from Stanton Chase, Heidrick & Struggles International Inc., Odgers Berndtson and Egon Zehnder are increasingly fielding calls from nonprofits and attribute the transition to scrutiny from donors as more money flows into the coffers of nonprofits.
WSJ reported that financial management skills are in high-demand for nonprofit charities as a result of this move.
Going to work as a finance chief in the nonprofit sector presents a new set of challenges, including the need to learn new ways of defining success outside of the balance sheet.
Also, the report added that reliance on uneven donations and government assistance makes planning more difficult for CFOs of charity organizations.
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Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.