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posted: 6/2/2014 4:07 PM

Area Nonprofits Complete First Leg of The Lake County Community Foundation's Two-Part Financial Management Training Initiative

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Sylvia M. Zaldivar-Sykes

Contact: Sylvia M. Zaldivar-Sykes
847-377-0520 ext. 24 sylvi

- Understanding your balance of assets and liabilities

- Being able to forecast funding levels

- Managing unexpected declines in funding with versatility

- Clearly and transparently articulating how funds are spent

- Demonstrating how the organization is performing at meeting its mission over time

- Documenting plans for improving any areas in which financial positions require attention

Foundation Executive Director Sylvia Zaldivar-Sykes noted that building financial acumen among the county's nonprofit organizations is one of the best ways to enable them to have a greater impact on the community's neediest residents.

"We know that if we strengthen organizations' ability to practice sound financial management today, will have sustained programs tomorrow," Zaldivar-Sykes said. "And with the ever-increasing needs of a county in which poverty continues to grow, the Foundation is focused on doing everything it can to build that long-term sustainability."

The second and final training will take place on Wednesday, June 25th, 2014 at the United Way of Lake County in Gurnee, IL.

About The Lake County Community Foundation
Since 2003, The Lake County Community Foundation, an affiliate of The Chicago Community Trust, has partnered with donors to leverage and guide their philanthropy to help transform the lives of the most vulnerable people across our county. Together, we have contributed over $2.5 million to 80 nonprofit organizations that support basic human needs, community development, education and health throughout Lake County. By connecting the generosity of donors across Lake County with the most pressing needs of the community, we ensure that our county thrives today and for generations to come.