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OBX Community Foundation to offer free workshop on finances for nonprofits

Southern Shores—The Outer Banks Community Foundation will offer a free seminar on financial management for nonprofits on Friday, Oct. 21, in the UNC Coastal Studies Institute 850 NC-345, Wanchese.

Led by Mig Murphy Sistrom, CPA, of Durham, the full-day course offered from 8:30 a.m. to 4 p.m. at no cost to any nonprofit organization serving the Outer Banks.

Space is limited for this workshop, and advance registration is required. Participants must register online by Monday, Oct. 17, at www.obcf.org. A boxed lunch will be provided during the one-hour break between sessions.

Tailored for nonprofit leaders without a fiscal background, the workshop will present an overview of all aspects of nonprofit financial management, including reports, budgets, compliance and best practices. Sistrom will teach the basics of cost allocation, balance sheets, revenue and expense reports, tax filings, including the Form 990, audits, sales tax and fraud prevention.

“I cannot recommend this class enough,” said Lorelei Costa, foundation executive director. “Any volunteer, board member or staff member who wants to understand the basics of nonprofit financial management will benefit from this workshop.” 

The seminar will be a casual, interactive discussion of practical and relevant topics, such as check-signing, record-keeping, and software considerations. Sistrom will solicit participants’ questions in advance to be sure to address all needs. 

Sistrom has served on the board of directors for several North Carolina nonprofits, and she regularly teaches courses on nonprofit financial topics through Duke University’s Nonprofit Management Program. She holds a certificate in nonprofit management from Duke, and is a graduate of Leadership America North Carolina.

Prior to opening her own accounting firm, Sistrom served as director of finance and administration for a Raleigh-based nonprofit with a $10-million annual budget. She began her career as a staff auditor at Price Waterhouse LLP, and also served as audit manager at a large North Carolina firm, providing accounting, consulting, audit, and tax services to nonprofit organizations.

Sistrom received a master’s degree in accounting and a bachelor’s degree in business administration from the University of North Carolina at Chapel Hill. 

The workshop is made possible with sponsorship from Dowdy & Osborne, LLP, Nags Head.