Charities Turning to Corporate World to Hire CFOs

credit: Zimbio

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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