Published May 22, 2024
Melissa Cole, Pensacola State College Foundation
Nearly forty individuals received expert financial management training from Pensacola State College Foundation Director of Finance and Business Operations, Mina Colōn, at this month’s full-day nonprofit workshop. Drawing from over three decades of diverse financial expertise, Mina guided participants through in-depth budgeting, financial reporting, and record keeping best practices.
Opening the training with an overview of program, fundraising, and overhead costs, Mina helped participants identify the essential expenses comprising a nonprofit’s operating budget. Through colorful math puns and hands-on exercises with realistic financial statements, attendees were separated into groups to learn practical applications of the budgeting process. They were encouraged to problem-solve in a fun and collaborative setting.
“Mina Colōn is a very knowledgeable and personable presenter,” Autism Pensacola’s Executive Director, Mary McClellan, shared. “She was able to turn complicated financial jargon into concepts that we could easily understand.”
Emily Lalas, Audit and Assurance Service Supervisor for Saltmarsh, Cleaveland & Gund, led a morning discussion on considerations essential for nonprofit auditing. Emphasizing the utility of a professional audit as a fundamental check and review of an organization’s financials, Emily encouraged attendees to be thorough in documenting information throughout the year. She stressed organizations should choose an auditor they can call for guidance when needed.
“Guest speakers, like Emily Lalas, and staff reflect a commitment to ensuring all invested organizations have the capacity to be fully compliant and successful,” Tori Morris, Director of Operations for United Ministries commented.
Before opening the afternoon to group project work and portfolio compilations, Mina provided a detailed review of financial statements and key interpretations of financial position for financial reporting.
Dane MacKendrick, owner of DANE MAC Studios and a mentor supporting the PSC Center for Nonprofit Excellence certification program, shared, “Mina provided a wealth of great information with energy that made the concepts really stick. I highly enjoyed the opportunities to share interactions with other attendees and participate in the larger conversation.”
Adding onto Dane’s sentiment, DeDe Flounlacker, Executive Director of Manna, stated, “Mina did a terrific job of explaining ‘math’ and financial management — something that is honestly not easy to do.” She continued, “Once again, the PSC Center for Nonprofit Excellence has delivered relevant training in a professional manner that is easily understood for adult learners that vary from the ‘typical’ student.”
For more information on upcoming training opportunities with the PSC Center for Nonprofit Excellence visit: https://npc.pensacolastate.edu/upcoming-workshops/ or contact Kylie Henderson at khenderson@pensacolastate.edu or (850) 484 – 1193.