In today’s competitive nonprofit environment, organizations continually seek ways to improve their operations and attract more funding. Funders require more than a compelling mission; they expect demonstrated operational competence before investing. The OpX360 Finance & Accounting module from The Capin Center for Nonprofit Excellence offers a free, easy-to-use assessment to help your nonprofit evaluate your financial and accounting competencies, pinpoint areas for improvement, and take practical steps to enhance your operations. It also provides an assessment score you can share with potential funders.

What is OpX360?

OpX360 is a comprehensive online assessment tool designed specifically for nonprofits to evaluate their operational efficiency in key areas like finance and accounting. The six free assessments are built around best practices and industry standards to help you understand your nonprofit’s strengths and potential weaknesses and learn how to elevate your practices so you can operate with excellence.

Assessment Breakdown

The Finance & Accounting module of OpX360 contains 60 Best Practice statements. These statements are grouped into seven Key Elements:

• Business process and reporting systems – Having the appropriate processes and reporting systems in place is essential for preserving data integrity, providing effective reports, streamlining business operations, and driving results.
• Cash and investment management – Professionally managing cash and investments is critical to safeguard financial assets and maximize your organization’s financial resources.
• Core programs support – Core programs are the backbone of any organization, and their success reflects your nonprofit’s success. To function effectively, core programs need timely and relevant information and support.
• Financial policies and procedures – Effective financial policies and procedures guide the business affairs of an organization and support and empower leaders and programs.
• Regulatory compliance – Every nonprofit is required to ensure compliance with the law, so understanding regulatory guidelines is critical to your success. Compliance protects your organization and board and builds trust with your constituents.
• Roles and responsibilities – Every organization needs adequate roles and responsibilities to function well, and clear roles and responsibilities can result in better business operations, program support, and outcomes.
• Internal and external audits – Audits confirm financial integrity, give stakeholders confidence in your business operations and financial reports, and help provide financial transparency and accountability.

By answering assessment questions based on these seven Key Elements, you’ll gain a comprehensive overview of your nonprofit’s health along with an understanding of why each element is important and how you can make improvements. 

Competency Levels: Where Your Nonprofit Stands

OpX360 categorizes your nonprofit’s current finance and accounting practices into three Competency Levels:

• Level 1 – Core operational practices necessary to perform effectively
• Level 2 – Sophisticated practices that enhance overall performance
• Level 3 – Leading-edge practices that enable an organization to deliver the highest level of operational performance

These levels allow nonprofits to not only assess whether they are compliant with best practices but also how their practices compare to industry standards.

What You Will Receive

After completing the free OpX360 assessment, you will receive two key deliverables:

1. Executive Briefing: A high-level summary of your nonprofit’s results with key takeaways such as:
   • Current Competency Level
   • Crucial Key Elements and their importance
   • The potential impact of non-performance
   • The three most critical areas to focus on improving first
2. Detailed Report: A comprehensive report that includes everything in the Executive Briefing, plus in-depth information on each Best Practice statement and your Competency Levels based on your responses. This report also provides recommendations your nonprofit can use to comply with industry standards where needed.

With our free unlimited subscription, you can take the assessment as often as you want to check progress and demonstrate competency to funders and other stakeholders.

If you’re looking to gain valuable insights to help you optimize your financial systems and improve organizational health, take the free assessment.

For a comprehensive look at your organization’s overall operational competence in other vital areas, OpX360 offers five additional modules. You can learn more about each here.

Additional Resource:
Opx360’s Fundraising, Marketing & Communications Assessment: Insight for Strategic Engagement and Growth