Nonprofit financial analysts provide financial guidance to both companies and individuals. This often includes conducting analysis and providing counsel regarding significant financial investments. A bachelor's degree is typically required and it is common for nonprofit financial analysts to possess a master's degree.
A nonprofit financial analyst works for a not-for-profit organization, making investment decisions, managing a portfolio or endowment and developing revenue streams. Although some positions are available to those with a bachelor's degree, many financial analyst positions require a master's degree. Licensing is not required, but many financial analysts earn professional certification after gaining experience in the field.
|Required Education||Bachelor's degree in finance, economics or related field; master's degree is common|
|Certification||CFA certification is voluntary but common|
|Job Outlook (2018-2028)||6% growth (for financial analysts)*|
|Median Salary (2018)||$85,660 (for financial analysts)*|
Source: *U.S. Bureau of Labor Statistics
Job Description of a Nonprofit Financial Analyst
Financial analysts evaluate investment opportunities and make recommendations by studying money markets and balancing risk and return. They also follow the financial performance of companies by researching stocks, commodities, futures and bonds. Nonprofit financial analysts perform these duties for not-for-profit organizations, like museums, hospitals and charities, while monitoring endowments or investment portfolios and suggesting growth potential.
Depending on the organization, financial analysts may also play a large role in developing and managing revenue streams. Specific duties may include budgeting, long-term planning, forecasting trends and implementing financial tools. Financial analysts are often required to analyze large amounts of complex data and write reports.
The U.S. Bureau of Labor Statistics (BLS) reports that financial analysts in general earned a median annual wage of $85,660 in 2018. Between 2018 and 2028, the BLS expects to see a 6% job growth rate in the financial analyst field.
Job Requirements for a Nonprofit Financial Analyst
According to the U.S. Bureau of Labor Statistics, prospective financial analysts typically need at least a bachelor's degree in a field like economics, statistics, business or finance (www.bls.gov). Many people also obtain a master's degree in finance or a Master of Business Administration. Coursework in these programs typically covers accounting, risk management, pricing and economic theory. Students may also find it helpful to work in the finance department of a nonprofit organization, either as an intern or in an administrative capacity, to gain familiarity with a nonprofit environment.
While licensing is not required for the nonprofit industry, a Chartered Financial Analyst (CFA) certification may increase chances of employment. This certification is administered by the CFA Institute. To be eligible for CFA certification, candidates must possess a bachelor's degree, have four years of relevant work experience and pass three exams.
Nonprofit financial analysts help businesses and individuals make financial decisions regarding stocks, bonds, and various other investments. Many nonprofit financial analysts have a master's degree. The average annual salary in 2018 for all financial analysts was $100,990.