Many CFOs are transitioning from for-profit businesses to nonprofit organizations, but adjusting to new demands in the nonprofit arena is a complex process, according to the Wall Street Journal.
Over the past year, the number of for-profit CFO candidates exploring nonprofit jobs has jumped 25 percent, according to estimates Sue Waterbury, vice president at DRG Inc., provided to WSJ.
The trend is fueled by more charities seeking the skills for-profit CFOs bring. Additionally, some for-profit CFOs are making the move to the nonprofit arena for altruistic reasons.
The switch from a for-profit company to a nonprofit organization can be a difficult transition for a CFO, according to WSJ. These CFOs face a number of challenges, including differences in reporting standards and accounting as well as smaller administrative budgets.
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