M+M 011: The Power of Financial Curiosity

Most nonprofit leaders have been there.

The financial reports arrive in your inbox.

Eyes glaze over.

It’s not because you don’t care though. It’s because the reports often feel like a foreign language. 

• Too many details

• Not enough context.

• No answers to what this actually means for our future.

That means the reports get “reviewed”, you check the box and move on to the next thing.

The reports should be simplified, but regardless of that there is something every nonprofit leader can do…complicated reports or not.

That is to practice financial curiosity.

It’s one of the most underutilized tools in nonprofit leadership.

What is it? Asking questions about the financial reports.

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What curiosity looks like in action

Reports are often created for compliance, not clarity. They check a box and look official. But they rarely spark meaningful discussion about the health of the organization.

The result is leaders stop asking questions.

Reports are accepted at face value, even if no one fully understands them. Opportunities to save money, increase donations, or prevent risk go unnoticed.

And the irony? The “answers” leaders want are often hidden in the reports, they just never get uncovered.

Here are examples of how I’ve seen this firsthand:

• A leader asked about one random software expense. That single question led to a review of all systems. The organization ended up saving $30,000 per year.

• A board member asked why no insurance payments showed year-to-date. The renewal turned out to be the next month, but the question resulted in a deeper coverage review. The nonprofit made adjustments that gave them better protection moving forward.

• An Executive Director asked why golf tournament revenue looked low. That prompted staff to check in with a sponsor. Turns out the corporate partner had forgotten to send their payment. One quick follow-up and the money was in the bank.

In all three cases, the benefit was obvious. And each win came from a simple, curious question.

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What curiosity unlocks

When you shift from reviewing reports to asking questions, here’s what happens:

• You uncover risks before they become headaches.

• You notice patterns that can save money or strengthen programs.

• You start seeing finance not as a burden, but as a decision-making tool.

• You gain confidence, because the more you ask, the more you understand.

And perhaps most importantly, your staff and board notice. They see that financial leadership isn’t about having all the answers.

It’s about having the courage to ask better questions.

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A simple framework to try

After you receive your financial reports, try this:

1. Review the reports you’ve been given.

2. Pick three questions that come to mind.

3. Either set up a meeting to review them or email them.

That’s it. No prep. No special training. Just curiosity.

The questions don’t need to be sophisticated. In fact, the simpler the better:

• “Why does this expense look higher than last month?”

• “What’s included in this revenue line?”

• “Why haven’t we paid for insurance yet this year?”

Over time, this habit will change the way your team thinks about finance. Reports will shift from being an admin task to an active leadership tool.

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My challenge to you

Most nonprofit leaders feel some level of uncertainty around finances.

Especially in high-growth seasons, when cash flow is tight, staff are stretched, and the board is asking for clarity.

The best part is financial curiosity is free.

It doesn’t require new systems.

It doesn’t require an advanced degree.

It just requires a commitment to pause, ask, and listen.

And when you do?

You’ll unlock insights hiding in plain sight.

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One last thought

Finance doesn’t have to feel intimidating.

It doesn’t have to be the part of leadership that gets brushed aside until budget season.

You don’t need to master every detail. Just get curious.

The smartest leaders aren’t the ones with all the answers.

They’re the ones brave enough to ask better questions.

So here’s my challenge for you:

At your next board or leadership meeting, what’s one financial question you’ll commit to asking?

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