Andrea Wilson co-leads BDO’s Nonprofit and Education Advisory Services practice and advises organizations on a wide range of issues including compliance matters, cost allowability and recovery issues, cost accounting, procurement, and internal control and operational assessments. She is an accomplished finance and operations advisor with more than 18 years of experience providing leadership and improving compliance, financial, procurement, operations, human resource, budgeting, and management systems.
I think that one of the big factors of the thrivers is the financial reserves. Fifty-eight percent of thrivers had over six months of reserves. The reserve factor is a significant indicator on whether organizations can go on and thrive. Technology was a significant factor in organizations being able to sustain operations in a remote environment under COVID-19. For a lot of organizations, their traditional delivery method is not sustainable in the COVID environment. They asked, ‘How do we lean into our mission, providing alternative programs or augment the programs we already have?’ By answering that, they figured out how to not only maintain the mission of the organization but also the relevance of the organization in the current world we are living in.3 June 2021