540: BFD: Board Financials Dilemma – Tony Martignetti Nonprofit Radio

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This Week: 

BFD: Board Financials Dilemma
What do you do for board members who can’t read your balance sheet? The authors of “The Board Member’s Easier Than You Think Guide To Nonprofit Finances” can answer that. Andy Robinson and Nancy Wasserman explain why understanding finances is critical so board members preserve your good work and protect themselves. Do their eyes glaze over when the numbers come out? We’ll help your board achieve financial literacy.

This originally aired on March 2, 2012 as show #81. This is show #540. Take a trip back in time with me. Of course, in 2021, your board members still need to understand your financials.

There’s more at tonymartignetti.com 

088: The Law of Attraction & Doyenne of the Day – Tony Martignetti Nonprofit Radio

Tony’s guests this week:

Melanie Schnoll Begun, managing director of Morgan Stanley Private Wealth Management

Melanie Grayce West, journalist for The Wall Street Journal and author of their Donor of the Day feature

Read and watch more on Tony’s blog: http://mpgadv.com

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Metoo hello and welcome to tony martignetti non-profit radio big non-profit ideas for the other ninety five percent. I’m your aptly named host. I very much hope you were with me last week. I’d be in shock if i learned that you had missed these two features. These two guests smart interviewing makes great hiring cheryl nufer, a founding partner in peredo consulting, explained why behavioral interviewing is superior to traditional methods and how any size non-profit khun get better hires through more sophisticated interviewing, whether you hyre once a year or many times a month and relationship mapping. Maria simple, the prospect finder and our regular monthly prospect research contributor helped you mind your data with tools that reveal relationships you didn’t know exist among your donors. As always, she shares about shared shared values last week. Who wrote this copy? I need an intern so i have somebody to blame it’s what situation is she shared? Valuable resource is many of them free. And if anyone wants to be an intern on the show and take blame every week, please send me your resume this week. The law of attraction it’s the melanie show i should say the law. Of attraction to attract major gift prospects and potential board members, you have to put your best foot forward to get what you are seeking. Melanie schnoll begun is managing director at morgan stanley private wealth management. She helps her ultra high net worth clients make charitable gif ts and get on boards, but she has practical and valuable advice that applies to any charity soliciting a major gift or recruiting a boardmember and diane of the day melanie west writes the donor of the day feature for the wall street journal and covers philanthropy. She’ll explain how she likes to be pitched story ideas, giving you the best chance of getting major coverage for your donors and also what she sees trending and finally there’s a buffet in the news. Melanie reported it yesterday, and we’re going to talk about it today on tony’s take two in between the guests. It is my block post this week take time to play pirates. A few weeks ago, i played pirates with my seven and nine year old nephew and niece, and it got me thinking, and i’ll tell you what i was thinking about that’s around thirty two minutes into the hour on tony’s, take two. Use hashtag non-profit radio to join the conversation on twitter. Join us there were monitoring it in the studio, right, sam, monitoring right now, okay, we are on dh when we take a break right now, and when we return, it is the law of attraction with melanie schnoll begun, so stay with me. You’re listening to the talking alternative network. Are you suffering from aches and pains? Has traditional medicine let you down? Are you tired of taking toxic medications, then come to the double diamond wellness center and learn how our natural methods can help you to hell? Call us now at to one to seven to one eight, one eight three that’s to one to seven to one eight one eight three or find us on the web at www dot double diamond wellness dot com way. Look forward to serving you. Is your marriage in trouble? Are you considering divorce? Hello, i’m lawrence bloom, a family law attorney in new york and new jersey. No one is happier than the day their divorce is final. My firm can help you. We take the nasty out of the divorce process and make people happy. Police call a set to one, two, nine six four three five zero two for a free consultation. That’s lawrence h bloom two, one two, nine, six, four, three five zero two. We make people happy. Bilich hey, all you crazy listeners looking to boost your business? Why not advertise on talking alternative with very reasonable rates? Interested simply email at info at talking alternative dot com welcome back to big non-profit ideas for the other ninety five percent on tony martignetti non-profit radio with me now is melanie schnoll begun. She is a managing director and head of morgan stanley private wealth, management’s philanthropic services. She serves as a philanthropic advisor to families, foundations and family offices, working with the firm’s, ultra high net worth clients. She’s, the incoming board, president of juvenile diabetes research, foundation of new york and board treasure of the partnership for philanthropic planning. My show has been a sponsor at there. National conference on philanthropic planning the past two years. I’m very pleased that her work and her expertise brings her to the show. Melanie schnoll begun welcome. Thank you so much, tony. Just one corrections. Why in the current oh, you are the kirk heard president of the board of juvenile diabetes research funding. I have to say that because the topic today that we’re gonna be talking about if i didn’t correct you about my particular officer position on a board, i wouldn’t be selling the reason why i said or or why i think it’s so important to serve for constance he believe in. So this is why i need an intern with you and i would both blame the intern and it wouldn’t have reflected on you badly at all. What is your work around with ultra high net worth individuals? What are you doing with them? Well, i think that my work is providing meaning in their life. Many of our clients come to us because they’re in the middle of a transition. Perhaps they’ve sold their business, maybe there’s some interesting event that’s happened in their life, perhaps even a very sad event. That’s happened their life, and we help them identify how to be very strategic, purposeful and planned in there, giving for many clients when they think about making a contribution, even a large contribution, they don’t put a tremendous amount of thought into it. It might be a cause that they’ve heard about maybe one that they’re associated with, but they’re not doing a deep dive into the background and the backdrop of what’s really going on in that non-profit organization or what else? There might be out there in the world. So we try and provide that professionalism and then along the way make our clients professionals themselves. What what? What? Do you find motivates ultra high net worth? And shortly i’m gonna ask you, what is ultra high net worth? But we’ll work our way to that. But what do you think motivates their giving? Well for some clients? It’s because someone sick in their family for other clients, it’s because their rights a little more about that someone sick where the e-giving in memory of the person, soon it’ll be in memory, will hopefully to find a cure. Hopefully the final usually clients witness a major change in their attitude. What they used to buy with their wealth no longer becomes important and that’s, because the second that someone has a diagnosis in their family of someone who’s ill the only thing they’re thinking about is identifying better treatment and perhaps secure. So we find often that we come to the film provoc table with someone who has just been given that diagnosis more and is looking for the solution where so many of us just our resource is, we go to the web and we learn as much as we can, but when we’re talking about people with extraordinarily extraordinary wealth that can actually invested in a possible cure that’s what? They want to buy it. They want to buy the cure. I think what’s shocking and disappointing in many instances is that clients, no matter how wealthy they are, find out that they can’t necessarily buy everything. So it is that deep investment for the long term, perhaps not even for the benefit of their family member who might be ill but for others to find a cure better treatment. Better resource is that might bring some of our clients to the table. Others are just deeply invested in their community. They want better cultural organizations. They want better education for their kids. Certainly in new york, that’s a very big issue about private school, public school. And as your children are going through that educational problem situation, where are there enough of fine schools in new york to send our kids to? In many instances, they find that they that there’s not so. Our clients are interested in identifying. How can they be the solution to the educational drama issue? We have just a couple minutes before a break. What? What what’s the definition of ultra high net worth. What is how much money are we? Talking about, well, a lot more money than i have. I’ve always said that i really hope to one day be able to be my own client. But for us, ultra high net worth is really defined as clients who have a net worth of twenty five million and more. The reality is that it’s, a very open span for those clients, though, with twenty five million and mohr, they usually have a significant out, a significant amount of money that they could do something incredibly impactful with their philantech. On how much i’m wondering how much does somebody who has that kind of wealth walk around within their wallet like like i have typically, like thirty or forty dollars in my wallet? But so i would probably not be confused for ultrahigh worth of net worth. If someone stole my wallet, i probably wouldn’t i probably couldn’t get away with that. But, you know, like, how much do you think they have? Just on an average day in there? Well, how much do you think that carry around? Probably probably no cash. I think that i think that most about very wealthy people typically put most their stuff on cards today. So you know what? Actually, i would go after your wallet if i knew that you were on the street. So just watch thirty or forty bucks, so i was ready. I was ready to go, like, three or four hundred in my wallet, and then it almost be worth it to lose that much if i could get two muggers to think that i’m ultra high net worth. Yeah, yeah. Now they would share the story of the ultra high net worth guy, you know, among their prison friends and i could, you know, get known that way, but i’m going about it the wrong way. You got to go down so well, no cash. Now we need to talk about prison reform as faras labbate, right? So so how can you make sure that those who come out of prison that are better off than when they went in and are telling the story of twenty martignetti being ultra? Yeah, absolutely. We have to take a break when we return. Of course, melanie schnoll begun stays with me, and we’ll continue talking about the law of attraction. So i hope you stay with us. You don’t think that shooting getting thinking, you’re listening to the talking alternate network. E-giving nothing. Good. Are you stuck in your business or career, trying to take your business to the next level, and it keeps hitting a wall? This is sam liebowitz, the conscious consultant. I will help you get to the root cause of your abundance issues and help move you forward in your life. Call me now and let’s. Create the future you dream of. Two, one, two, seven, two, one, eight, one, eight, three, that’s to one to seven to one, eight one eight three. The conscious consultant helping huntress people be better business people. Oppcoll hi, this is psychic medium. Betsy cohen, host of the show. The power of intuition. Join me at talking alternative dot com mondays at eleven a. M call in for a free psychic reading. Learn how to tune into your intuition to feel better and to create your optimum life. I’m here to guide you and to assist you in creating life that you deserve. Listen every monday at eleven a, m on talking alternative dot com. Are you feeling overwhelmed in the current chaos of our changing times? A deeper understanding of authentic astrology can uncover solutions in every area of life. After all, metaphysics is just quantum physics, politically expressed, i and montgomery taylor and i offer lectures, seminars and private consultations. For more information, contact me at monte m o nt y at r l j media. Dot com talking alternative radio twenty four hours a day. I’m leslie goldman with the us fund for unicef, and i’m casey rotter with us fun for unison. You’re listening to tony martignetti non-profit radio big non-profit ideas for the other ninety five percent. Welcome back to tony martignetti non-profit radio. My guest is melanie schnoll begun and melanie let’s talk about. When charity’s air trying to solicit gif ts you have your clients who are ultra high net worth, but you have, i think, very valuable advice for any charity that’s trying to solicit any major gift, which maybe five hundred dollars or thousand dollars for some charities. What what’s your you see sort of faulty proposals a lot, don’t you? Yeah, i think that non-profits believe they understand who the donor is, and they prepare something in advance. That’s a critical error, you never know who that donor is, the famous saying. If you’ve met one philanthropist, you’ve met one philanthropist, so we try and tiki non-profits to perform a radical listening, and that means spending the time to really understand why a donor may want to be a donor to their organization. The time will be incredibly valuable both for the non-profit but even more importantly for the donor, when the donor has the opportunity to talk about what they care about why they care about the organization’s mission, you hear things you really hear things inside of that conversation inside the conversation in the donor’s hat so radical listening is a skill that we teach non-profits to practice. And that skill is something that serves both board members. It serves the staff of non-profit organizations, and at the end, you’re really giving a service to a donor. I think that most of my clients find that no one listens to them well enough. Yeah, but but a charity that’s that’s soliciting a major gift. However they define that might feel that they’re not going to get another meeting with this person. They go one shot. We finally got the meeting. We got forty five minutes. Way better. We’ve got to lay it all out because we may never get a second meeting that’s, right? So you walk into every meeting with the idea that if i really listened to this donor, i’m going to get the second meeting. If you walk in with a proposal thinking that you know who this person is and what they want to offer your organization, you’re probably guaranteeing yourself that you’re not going to see that donor again. So does it always work? It may not always work if you begin practicing it. Well, if you spend so much time performing discovery on that donor both in the dance of the meeting and then, while you’re sitting at that meeting, i think over time you’ll find that your practice as a fundraiser will dramatically improve. So you’re suggesting that if you can move the donor while while radically listening, then you’ll get a follow-up meeting brightstep my suggestion is, if you are performing radical listening, you will move the donor, okay, okay, even without introducing your mission and your work in the first in the first meeting, right? Because you’re going to hear from the donor what the donor wants to dio instead of telling the donor with a non-profit wants the donor and you do know there’s a threshold interest, otherwise you wouldn’t have gotten the first meeting would have gotten the meeting would have gotten the meeting. So it’s, it’s, it’s, it’s an important skill it’s something that has been written about andi, i think that we can’t live in that fear fundraisers can’t live in that fear that this is joan, or will not be interested in talking to me again. In fact, most of the conversation is not a conversation most of the conversation is letting that ultra high network donor talked to you, and you’re just there. To listen or again, it could be any level donor, and i’ve had where we have a regular prospect. Research contributor maria simple is on, and she and i have talked about the value of the face to face meetings, and she’s a professional prospect researcher who knows all the web webb resource is, you know, but she still recognizes that the greatest prospect research comes from a good, good conversation, absolutely, and and and and he’s absolutely right face-to-face looking a donor in their eyes. In many instances, i think being on the donor’s being in the donor’s territory so ah place where they’re comfortable, where it’s an environment either their office, they’re home, maybe somewhere where they’ve recommended that they like to go for coffee. Usually i recommend going for a glass of wine because, you know, does it doesn’t hurt, but her loosen up? Yeah, exactly. I’ve tried to get sam lee boards to have wine here, but he’s not doing it now you’re not really radical listening, right? I just radically demand. Thanks, you know, but i’m not a charity, so i think i’m exactly you only have thirty example. Everything was for you only have thirty dollars. You’re well, you’re our charity ticket. You can’t get a decent bottle of wine for thirty bucks. So then the careful listening radical listening is goingto inform your valuable proposal when that when it’s the right time, that’s, right sametz writer and the valuable proposal some hints that we give to non-profits as they’re preparing that that proposal brief three points know what are the key issues that you’ve heard? The donor has said to you, the areas where they’re really interested in supporting on ly talk about those areas, right? Putting in a proposal for stuff that you haven’t heard because the organization needs it, but the donor doesn’t want it what’s the likelihood of that getting funded so three typically are the most that we suggested a proposal going backto a donor that you know what they’re interested in, you’re going to get a much better response, okay, other tips for the for the proposal itself, for the written document, you brief couple pages, right? A couple of pages in fact, most of our clients today, they don’t want to read stuff, right? And they fear that if the non-profit is spending so much time and resource is preparing proposals, then they may not be spending the money that i’m giving to the organization i’m doing the work so in many instances, is it brief short? In fact, non-profit should ask the donor. How would you like me to prevent to present a proposal? Is it isn’t even something that you want in writing? Or should we just have another conversation? I would welcome that second conversation so that now the second meeting, the donor’s prepared to do their own radical listening. Is there a problem? Sometimes when a donor gets sort of passed off from somebody who knows the work very well to the fund-raising professional who’s goingto the closer it’s like it’s, like in a in a car dealership going to which i have very bad memories of a child. Buying my first car was awful, but at a car dealership going from the salesmen to the finance manager exactly going that office and the door gets closed off, you know, but being passed from the maybe the executive director or someone who knows the work well to the closer the fundraiser doesn’t something get lost there sometimes. Yeah. What? What gets lost is the gift. So no one wants to be handed off everyone in that non-profit organization, both from voluntary leadership. To professional staff should be able to talk about programming if the executive director is the one who has contact with that donor. If it’s a boardmember who has the contact with that donor, or if it is the professional fundraiser that has the contact with that donor, the conversation should be between those two people bringing others include others in the conversation. But don’t hand a donor off. I have a a client’s situation that happened with a large university hospital incredible organization doing tremendous work. And this client’s unfortunately this this medical institution was not able to save the life of our client’s husband. But he wanted to honor him. She wants to memorialize him. And the doctor who was treating her husband was the individual that he wanted to leave a contribution for so that he could continue doing the great work that he began with her clothes with her with her husband. Many of the conversations happened between her and the doctor. It was intimate. She could see clearly what she wanted to accomplish. And then when it came down to the clothes she was handed to a development director. Ah, fine development director. Someone who? Spent years in the business, but it was so disconnected and she felt that were there. Were you there for the meeting? So i was there after the fact also, i came in to help save the gift. Okay? And we this this donor-centric working with us after he felt that brush off from the doctor and it was completely unintentional. So totally unintentional. Just protocol just about innocuous handing off it’s the way things are done, he wasn’t supposed to close that’s someone else’s responsibility. So what? I teach both boards as well as professional staff. It’s everyone’s, responsibility close. If you’re the one who has the relationship, you need to be confident enough to make the ask. And you need to be prepared enough too close. And if it’s i guess if it’s a really technical gift which it could be a at large dollar amounts, then at least include the in your case, the doctor, but generally the program, the work expert in the conversations don’t leave him or her out in the hall while now the professional closer you know, goes through his is her stick that’s, right? And you know it. Theatre knees, the accountants. All the financial advisers, all of those professionals, need to play a role in the process. I’m if the donor wants him to be included in the conversations about the specifics of the gift that’s great, but there’s the technical aspects of giving and then there’s the emotional aspects of giving and what i see getting lost. It’s, it’s, it’s never technique, right? You could draft a perfect trust. It could be absolutely accurate. The document itself could get an a plus plus in any fine law school. But if the donor is not connected emotionally to the gift, it doesn’t matter what the document says. Melanie schnoll begun is managing director, head of morgan stanley, private wealth, management’s philanthropic services and we’re talking about the law of attraction basically had a look good when you’re either soliciting a gift or soliciting someone for boardmember ship, which is what i’d like tio transition to now, okay. Appealing to a board appealing to a potential boardmember, um since you’re working with ultra high net worth people, i’m going to guess that sometimes there approached because they’re very wealthy. And how do they feel about that? Yeah, so in the law of attraction, it’s it’s rarely because they’re really good looking. Damn many of them might be hot tonight, but it’s usually because they’re wealthy, so similar to the idea of marriage. Right? So when i got married, i married for love. I married for looks there’s, you know there’s a little bit of money to that’s. All so that’s, always wonderful when you think that before you can say sex on the show is this the part where you were this sick? It’s coming, it’s coming, it’s coming, it’s coming sex is you have to have a little foreplay before sex. So it’s getting there russia you’re like that’s been my problem. You’re russian in europe. Well, among others, but let’s keep it let’s. Keep it focused on alt-right work-life let’s, take this conversation on the bed here. Right? Right, right. So the opportunity of creating a marriage between potential boardmember and an organization it’s. Incredibly important. So the the reason donors believe that serving a non-profit is an appropriate step for them is because they’ve been courted well, it’s, because they find the organization incredibly attractive and good looking it’s because they want to spend a lot of time with that organization because they want to see that organism they grow and really achieve incredible impact very similar to marriage alive know the problem with marriage is is half the men in divorce, so the same is true with non-profit port service, you’re excited at the beginning, right? You can’t wait for that next kiss can’t wait for the next date and then quickly within the first year, if the non-profit doesn’t really know how to work well, play well, dine the donor well doesn’t understand where they like to go to how they like to vacation. If the non-profit doesn’t know how to use the donor to his or her maximum capacity, they get bored, they get disenchanted and the worst thing is donors cheats like just like what happens in many families that fall apart, they begin looking at other opportunities that really do want them thinking that it’s better on the other side there feeling remorse about having joined this board, everything was great in the beginning, the right the honeymoon stage, but about exactly right. Exactly right. So spend your time non-profit should spend their time thinking about whether or not this is a person they want to marry. Is this a person that will bring value to this relation? Can we grow together? And what do we each bring to the relationship? It has to be more than just money again. Just like many families, right? If all you’re going after is the wealth than a marriage for many, many years will fall apart. You know the boardmember potential boardmember wants to know that they’re going to be used effectively. That’s right? Utilized way. Don’t use board members. We usually large numbers. Okay. Okay. Um, taking over the show? No. Uh, let’s see, so but a lot of times, board charities need an expertise. We need an accountant or we feel we need an attorney. And in some deshele t real estate, maybe or something. So they’re seeking that profession. But that is contrary to what you’re recommending, right? So i think what boardmember sze need to be on? What boards need to do to get the right people on their team is, they have to look for people different than themselves. What happens with most non-profit boards is you look around the board table and everyone’s the same right, because it’s a friend introducing another friend. They come from similar backgrounds, specially smaller charity it’s, a friend of the executive director of the founder, absolutely especially small non-profits and specifically, when they’re getting off the ground, right. So it’s, the founder, it’s, the founders best friend, its founder, sister, and perhaps someone who worked for them at one point time or an intern so non-profits really need to think about how can we bring true diversity to our board? Professionalizing aboard must include accountants, financial advisors, lawyers, but you can’t just look at them as a lawyer, you need to look at them as a lawyer that has a mission that there interest must be tethered, if not tied to the nonprofit organization, that they’re a lawyer that’s their skill set. But ultimately we know that even if they warrant a lawyer that they really support the work of that organization. I wantto have you bring something out that we had talked about that very wealthy people are not un interested in working for smaller midsize working among being utilized by small and midsize charities. Is that right? Absolutely. I think that many very wealthy clients believe that they can be better utilised in a small nonprofit organization. In fact, that’s where most of the money came from. So the majority of our client base started their own closely held businesses. And they realise what it means to rule up their sleeves to get dirty. They love on that kind of opportunity and nonprofit organizations. So when you come into these large non-profit organizations very bureaucratic, very political. So many individuals that look like them. So it is even mohr attractive for wealthy people to see that you know, my gift. We’ll make a significant difference here. But my time may even be more valuable. Tulani schnoll begun is a managing director and head of morgan stanley. Private wealth, management’s philanthropic services. Melanie, thanks very much for being in the studio. Being a guest, tony. Thanks for having me. It’s. Been a pleasure right now. We take a break when he returns. Tony’s, take two. And then, after that die, end of the day. Melanie west. Stay with me. Hyre you’re listening to the talking alternative network. Are you feeling overwhelmed in the current chaos of our changing times? A deeper understanding of authentic astrology can uncover solutions in every area of life. After all, metaphysics is just quantum physics, politically expressed, i and montgomery taylor and i offer lectures, seminars and private consultations. For more information, contact me at monte m o nt y at r l j media. Dot com are you stuck in your business or career trying to take your business to the next level, and it keeps hitting a wall? This is sam liebowitz, the conscious consultant. I will help you get to the roof, cause of your abundance issues and help move you forward in your life. Call me now and let’s. Create the future you dream of. Two, one, two, seven, two, one, eight, one, eight, three, that’s to one to seven to one, eight one eight three. The conscious consultant helping conscious people. Be better business people. Hey, all you crazy listeners looking to boost your business? Why not advertise on talking alternative with very reasonable rates? Interested simply email at info at talking alternative dot com welcome back, it’s, time for tony’s take two at roughly thirty two minutes into the hour. My block this week is take time to play pirates. A couple of weeks ago, i played pirates with my seven year old nephew and my nine year old niece, and it got me thinking about the value of taking time for play, whether that’s play with kids or play with adults, it’s a chance to rest your mind and think about things on dh ideas completely unrelated to what your work may be day to day, it could be mindless play, and that could be even mindless play with adults you might have fund-raising yourself mindless with adults and then and then playing, you know, talk politics without any restraint that we have in our day to day lives. All i think makes you at least i feel this makes me feel more refreshed makes me more focused at work. I think when i take time off and i return, i’m just i’m just performing better and i’m hoping that you’ll get some of those same result it’s from taking time, tio play could be pirates could be something else and that’s what’s. My blogged this week, my blog’s is tony martignetti dot com. I also want you to know that we have a linked in group for the show. If you have a suggestion of guests or topics for the show again, just go to the blogged tony martignetti dot com and there’s, a very prominent link to all my social media properties presences, including the new linking group for the show and that is tony’s take two for friday, april twentieth, twenty twelve. The sixteenth show of the year with me now is melanie west. She writes for the greater new york section of the wall street journal. She writes the donor of the day column and covers the philanthropy beat. Before that, she wrote for the weekend journal aboutthe wine industry and wine travel. She joined the journal in two thousand six graduate of cornell and the columbia university graduate school of journalism. Melanie west lives in manhattan with her husband, and i’m very glad that her work brings her to the studio. Melanie welcome. Thank you. Pleasure to have you. Thank you. Um, let’s talk about donorsearch that day. What’s the what’s. The purpose there. Well, as you know, we’ve had a long commitment at the journal to report on the philanthropic interests of of our readership, and for many years we had a column that was gift of the week. And during the economic downturn, we how do i put it? Sunset that column in favor of resurrecting it with the greater new york section, which is our city section in the wall street journal, available in new jersey and connecticut, and certainly manhattan and the boroughs. And ah, the decision there was to create a column that was daily and looked at all kinds of philanthropy be at a forty million dollars gift or a gift from a teenager who does something that’s incredibly not charitable. So that’s what? The column is runs most every day in the paper. Assuming that we have news, we have room for it on dh it’s a pleasure to do and they they preferred the alliteration. Clearly, i like a little rations on my show. Gift of the week doesn’t sound snazzy donor the day sounds pretty cool, i guess die end of the day you’re doi end of the day, i’m doubling urges w w end of the day i think and you just surpassed five hundred columns. I know not you personally. Yes, we’ve done five hundred of them wasn’t just last month, i think, yep, ok. And that’s, you know, it’s been a great opportunity to speak with e, you know, diverse group of people here in the city and to learn about their passions. And i won’t say that it isn’t a challenge. Teo, create that column every day or lose five days a week. It is so you know, i hope your readers, your listeners, have some ideas for me, and they could certainly reach out to me, and we’re going to talk about that. How long have you been doing the column over a year now, okay, i’ve written the majority of that five hundred. Oh, you have, yeah, okay. And your predecessor was surely banjo. Correct, right? Who’s now on the connecticut westchester beat, i think something connecticut westchester, correct. Okay. You sometimes do a mention of the day what’s that about well, said someone who’s ah do gooder on dh it’s for people who have extraordinary passions and do unusual things. So for example, we’ve had a gentleman who ran for three days straight who’s raising money for multiple myeloma cancer research. We’ve had a teenager who, you know, collected a bunch of money through unicef, trick or treat they’re unisex trick or treat program. They had raised the most amount of money of any kids in the country, and that was up in connecticut. Um, these are for, you know, those air areas to talk about people’s philanthropic gifts without them being huge gifts and make for an unusual story and certainly a very charming story. So how do you like to be pitched? Email over phone what’s, your what’s, your preference about being pitched for doner of the day? I get pitches in all kinds of different forms, really off difference. Is there a way people? I’m sure people would rather give it to you in the form that you prefer. Um, actually don’t have a form that i prefer. What i really need to know is that the individual who is to be profiled is comfortable talking about the size of their gift. The quantity of their gift dollar value is always included, right? It’s a critical fact in the story. We are a paper that reports on transactions and these air philanthropy transactions. And so the amount of the gift is critical. Of course, it needs to be in a recent gift, and it needs to be news. Most of the stories that i do, in fact, ninety nine percent of the stories that i do our exclusive. So the story needs to come to us first. People need to be. The donor needs to be compelling. It needs to be someone who’s generous. Someone who deeply cares about what they’re giving to those are the best stories. Okay, do you take into consideration that for some charities ah, twenty five thousand dollar gift or forty thousand dollar gift, maybe very large. These they have to be, of course, gift in the millions. And, well, i mean, i think a twenty five thousand dollar gift to a major university is maybe not is proportionate gift. But to answer the question more broadly know there’s, not a threshold. Okay, it’s, really a question of is that it? Is that a meaningful gift to the organization? Okay, and what would you like to see in the in the pitch? What do you need to know? Initially, tio to determine whether you’d like to go ahead. Well, i need a sense of time if they want to do it tomorrow, then on di doo doo stories that, you know, happen tomorrow. There’s a story that i had to run today that will run on monday and it’s a very quick turnaround, so i don’t need a sense of time certainly need a sense of the amount of the gift, and i need a sense of who the person is. Okay? Oftentimes i’ll get a email where someone will say, well, i have this idea of someone who might want to do something and is usually nine times out of ten doesn’t come to fruition, so needs it pretty to be a pretty solid, okay, let’s, get the incumbent ones that air so kind of vague, right? What about the the idea of follow-up phone calling of some of somebody emails you a pitch and then follows up with a phone call to say, i just wanna make sure you got my email does that? There are some journalists who gets very turned off by that on don’t appreciate the double double contact. How do you feel about that? I tried to be friendly to everyone that calls very thoughtful. Okay. Okay. Okay. Calls a reasonable number of times a reasonable number. Okay. All right. Anything else you want to say about pitching? You know, just reach out to me by e mails at the bottom of every story online. So it should be pretty easy to get me, and they’re very easy to find just google melanie west or melanie grace west correct, g r a y, c and donor of the day and you’ll find many many columns donorsearch day. So since you’ve written the majority of the five hundred, you see some trends, no doubt what what’s what’s, something that you’re seeing happening more often seems my good trends, i think ok, you know, i’m seeing a lot more people acknowledging the need to give locally, um, people who have made their wealth in new york and in the region and who feel it’s their responsibility to support the city. Either they’re they’ve come here, they’ve come from here. There are many of them have been born in brooklyn, but they have a very good awareness that the need is great close to home. That isn’t to suggest that there aren’t a tremendous number. Of people who are giving to their alma mater, zand states away what it is to say that there’s this awareness that there is a need in the city and i think that we can partially thank mayor bloomberg for setting that trend and making that awareness known, especially among his friends and colleagues. Now should we point out that is going back to stories that are appropriate? That needs to be some metrical area connection once you make sure that’s clear well, the donor of the organization needs stay in the area, okay, new york, new jersey and connecticut correct nasco some connection with the charity or the donor, right? Well, the column runs in the greater new york sections, so we’re not reporting on what happened the california but the show’s hyre worldwide, so i just wantto make make sure that people know there’s got to be that new york, new jersey connecticut connection. Okay, aside from local giving, what else? What else you’re seeing it’s great for me again. People i think are choosing not to give anonymously. They’re choosing to set an example. They’re choosing teo, encourage their colleagues as well. I had a gentleman, who’s. A donor a couple months ago, and he gave a two million dollar gift to bridgeport hospital, which is in connecticut. And he said one of the reasons why he gave the gift is because he wanted to make, you know, set the example for for other people and basically, he said, if you know people look at me and say, hey, he could give two million i can do at least that much, um, and in this particular gift, the gentleman’s joel smile oh, ah, he had the cardiac unit named for him. And so i think naming gifts are also, you know, compelling to people. Come, you know, in so few words, he said that effectively, if i could have a named gift for two million prison that many of my neighbors can also have a similar gift. And that’s that’s pretty well known in fund-raising circles that we can get somebody to stand up at a gala let’s, say or identify themselves somehow and say i did it in fact, in board meetings. It’s sometimes used to i did it, and i’m challenging all of you to do it. Sounds like something similar to what? What? That? Gentleman, what jules was doing, joel and then jules kroll he’s a gentleman. Who’s made his his his million’s in global consulting and search of corporate security. Right hey gave a two million dollar gift to john jay college and he again wanted that to be a very public gift to inspire others to give to John jay and 2 other city university established. You know, the college is to grow their fund-raising profile as a place where, yes, you khun give gifts here. There’s another gentleman. I did a story on very recently. His name is henry van amorin. Gin it’s quite well known in the gay, lesbian and bisexual transgender community. He funds a lot of causes, and he gave a million dollars a million dollars to in the life media. And he never gives a name gift. He on lee it’s anonymously and the reason why he gave this gift it to your point is he wanted to inspire others to give. And it was a matching gift or a challenge gift. And do you find that is usually the charity that encourages the person to step out of anonymity? Or is it the donor thinking of it on their own. I don’t think the charity concert i don’t think the charity could be persuasive enough teo, to get someone who would give anonymously to suddenly put their name to it. I think the individual wants to do it, you know? Arika dahna i mean, i could see a charity trying push because they’d like to motivate the same similar gift, and we have just about a minute before a break, you have your seeing something in terms of gift being split up, split gift. Yeah, i think this is a good idea. Trend there. Some donors that i’ve spoken with have decided, especially for college endowments, to give a gift that, you know, may endow a chair but also to give a gift a tte the same time. Two scholarships. So something that could be used in some in the president in something that is a future gift that the university can drawn. Okay, so seeing okay current and then planned gifts or deferred endowment type gif ts corrects here together. Right? Right. Okay. All right. Well, we’ll take it. We’ll take a break there and when we return, melanie west will stay with me. Doi end of the day. Andi. I hope you do, too. Talking alternative radio twenty four hours a day. Hi, this is psychic medium. Betsy cohen, host of the show. The power of intuition. Join me at talking alternative dot com mondays at eleven a. M call in for a free second reading. Learn how to tune into your intuition to feel better and to create your optimum life. I’m here to guide you and to assist you in creating life that you deserve. Listen every monday at eleven a, m on talking alternative dot com. Hi, i’m carol ward from the body mind wellness program. Listen to my show for ideas and information to help you live a healthier life in body, mind and spirit, you’ll hear from terrific guests who are experts in the areas of health, wellness and creativity. So join me every thursday at eleven a, m eastern standard time on talking alternative dot com professionals serving community oppcoll. Hi, this is nancy taito from speaks. Been radio speaks. Been. Radio is an exploration of the world of communication, how it happens in how to make it better, because the quality of your communication has a direct impact on the quality of your life. Tune in monday’s at two pm on talking alternative dot com, where i’ll be interviewing experts from business, academia, the arts and new thought. Join me mondays at two p m and get all your communications questions answered on speaks been radio. This is tony martignetti, aptly named host of tony martignetti non-profit radio. Big non-profit ideas for the other ninety five percent. Technology fund-raising compliance. Social media, small and medium non-profits have needs in all these areas. My guests are expert in all these areas and mohr. Tony martignetti non-profit radio friday’s one to two eastern on talking alternative broadcasting. Talking. Oppcoll welcome back to big non-profit ideas for the other ninety five percent. Melanie west writes the donor of the day column for the wall street journal she’s with us, but she doesn’t only write the donor of the day column. Just yesterday, she had a piece on howard buffett, son of the very well known philanthropist and billionaire what’s what’s happening in the buffet family melanie that you covered yesterday? Well, i had the great opportunity to visit mr buffett on his farm in the middle of illinois beautiful part of the country and ride in his tractor as we work the fields for a little bit. All right already. I have to stop you. I’m sorry, but his his tractor has gps e well, i mean, this isn’t just your regular old puffing plaque smoke tractor, though they did start out with that was a pretty sophisticated piece of equipment, it’s, more like what i would call like a robot, a giant farm robot, but i read gps in a tractor and initially wondered why you need gps isn’t is an attractive, pretty much just up and down the rows. Why is there a gps in attractive it’s harder? Than you think. My over our new yorker is oversimplifying. Don’t you need gps when you travel out of the city? I do. But how far does he think his tractor he’s got quite a bit of land and it actually speeds to process out. So it’s yeah, we got it back and forth, it’s more than just back and forth. There is some technicality to it, and you want to plant a rose straight if you don’t, you’re gonna have a messed up crop. Okay? I just envisioned a lot of turn left. No, no, no, no. It does it on its own. Oh, gods the tractor? Yes. Oh, oh, it sze more than just telling you how to go. Oh, absolutely. No, no, no, it’s. Not that kind of thing. It’s gps operated in the sense where it’s like not off by an inch. Oh, excellent. Okay. All right. That was a digression. Okay? Important one that didn’t come out this in detail. It did not come out in a story with sophistication of his gps. Actually drive. The tractor doesn’t just say turn left. Turn right. And it plots exactly where each seed gets dropped. I mean it’s really? Quite amazing. Okay, okay. So in the last few years, mr buffett has turned his attention to domestic hunger. As you know, his foundation. It’s, about a two hundred twenty five million dollar foundation, has primarily funded work in international developments. Howard buffett correct foundation correct. This’s, the middle son of the billionaire investor. Okay? And he in recent years decided that there was more he could do closer to home. For many years, he has supported things throughout decatur and illinois and nebraska local charities. But he has become more aware that hunger has a different look than what we might think of it. And in rural areas. It’s really quite quite an issue feeding america, the charity that mr buffett has partnered with reports that, you know, the greatest levels of food insecurity in the country are primarily in rural areas, not in urban areas. They’re statistic is fifty five percent. So with this, he looked closer to home, began doing more research he funded with feeding america giant map called i think it’s called bridge the meal gap for the meal gap. And it basically takes a county by county approach of where hunger is. In america, and he funded that project with some other partners based on that, he decided he could do more. And for the last few years, he’s been thinking about a project that would directly get farmers invested in hunger in their community. Now, in rural areas, you have to think about it, you know, who are the who are the leaders in rural areas and is very much the farmers on dh. So if they got together and they work together, how could they raise money to give closer to home? And this was his problem and something that he solved. And so on thursday of this week, he announced a plan in partnership with adm. Archer daniel with daniels midland to create a program where farmers give a portion of their crop to feeding america. Archer daniels midland very big agribusiness, correct company. So what a farmer does is he has nine hundred fifty bushels in a semi tractor trailer. They roll up into archer daniels midland. The company asked, how much of that do you want to give to charity? We can give a bushel. They could give no bushels. They can give a hundred fifty bushels. And what happens is the amount of money for that bushel goes back to the organization, so so we’re not donating. There were some comments to your yeah, that suggested that the raw corn was being donated to food hunger program, yeah, hungry people provoc corn no it’s very bad for the teeth for everybody unless you’re gonna pop it. But it’s not a balanced meal, so the proceeds of the amount that they designate that was in the article. Okay, so but i can’t help it if people didn’t read carefully, it is a confusing idea because i think people think that there’s going to be farmers who are giving food, and that is actually a secondary portion of it which was not covered in the article is he wants to encourage those people, too. If you’re going to give money and you’re going to donate some of the proceeds from your crop, why not within the gardens and lands that you have grow a little food and donate that to the food bank as well? So he in one of his plots of land is actually growing corn for the food bank indicator and he’s gonna, you know at harvest time, roll up with a bunch of sweet corn. And the, um the money is going to be donated to the peach farmers. Local correct local food program say little about that. Right? So feeding america has about has two hundred to food banks in the country. Fifty three of those food banks directly service rural populations. So the gift in what the farmers air donating will benefit those fifty three food banks. So it is staying in their community and that’s very, very compelling for the farmers. That is a key component to getting them to donate stays local. Correct. Not unlike what melanie schnoll begun. My first guy? Yes. I was talking about that there’s. An interest in giving people are interested in giving locally. They want to see local impact on this is called invest in acre co-branded. Okay. And so all of the programme materials should be live now and online. And i believe it’s, invest in acre dot or ge ah it’s being primarily funded and driven by the howard g buffett foundation. Okay. And there again that you are always invest an acre dot org’s, i believe. All right. Melanie melanie west. Thank you very much for being a guest. Thank you very much. It’s been a pleasure. Melanie west writes the donor of a column for the wall street journal and covers the philanthropy beat there. My thanks also to melanie schnoll begun for being with me and her assistant saraya for all her help next week, get monthly givers. Bob wesolowski, the president of caring habits, helps you get habitual monthly donors through electronic funds. Transfer ft for those in the in the in the business and strategic organizations raised more money starita ansari is president and chief change officer at m s b philanthropy advisors. She wants you to organize thoughtfully around your mission, looking strategically at your inputs, outputs and outcomes to boost your fund-raising revenue keep up with what’s coming up. Sign up farming satur email alerts on the facebook page like that page! If you like the show, you’d always know that you can listen live or archive to catch us archive, go to non-profit radio dot net non-profit radio dot net that will take you to our itunes paige and my thanks again. To those who raided the show on itunes on twitter, follow me follow the show’s hashtag used the show’s hashtag non-profit radio use it unabashedly our creative producers, claire meyerhoff. Sam liebowitz is our line producer. Janice taylor is our assistant producer. Shows social media is by regina walton of organic social media and the remote producer of tony martignetti non-profit radio is john federico of the new rules. I sincerely hope you will be with me next week. Friday, one to two p, m eastern. You always find us at talking alternative dot com, which is the home of talking alternative broadcasting. Dahna good thing. The shooting. Good ending. You’re listening to the talking alternative network, waiting to get me anything. E-giving cubine how’s your game want to improve your performance, focus and motivation than you need? Aspire, athletic consulting stop second guessing yourself move your game to the next level, bring back the fun of the sport, help your child build confidence and self esteem through sports, contact dale it aspire athletic consulting for a free fifteen minute power session to get unstuck. 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I still haven’t found the one want to make your current relationship as filling as possible, then tuning on thursdays at one pm for love in the afternoon with morning alison as a professional matchmaker, i’ve seen it all with distinguished authors, industry coolers and experts on everything from wine to fashion. Join us as we discuss dating, relationships and more on talking alternative dot com. Are you fed up with talking points, rhetoric everywhere you turn left or right? Spin ideology no reality, in fact, its ideology over in tow, no more it’s time for action. Join me, larry shock a neo-sage tuesday nights nine to eleven easter for the ivory tower radio in the ivory tower will discuss what’s important to you society, politics, business and family. It’s provocative talk for the realist and the skeptic who want to know what’s. Really going on? What does it mean? What can be done about it? So gain special access to the ivory tower. 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081: BFD: Board Financials Dilemma – Tony Martignetti Nonprofit Radio

Tony’s guests this week:

Andy Robinson & Nancy Wasserman, co-authors of “The Board Member’s Easier Than You Think Guide to Nonprofit Finances”

Read and watch more on Tony’s blog: http://mpgadv.com

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Dahna hello and welcome to tony martignetti non-profit radio big non-profit ideas for the other ninety five percent, i’m your aptly named host and its march second, two thousand twelve well, i hope you were with me last week because there were some excellent interviews last week like this one take on teens aria finger she was that she is the ceo of do something dot or ge, and she had ideas for motivating teens and getting their passion points, finding their passion points to get them engaged in your work. Also pursue your hero’s journey. His journey took him across the u s in a vw microbus, inviting two hundred of the country’s most famous and powerful to coffee. Eric sapper stine is chief creative officer at living wonder, and he shared some of his amazing lessons. Both of those were pre recorded at last year’s next-gen charity conference, then last week also had going greater into google search. Maria simple, the prospect finder and our regular prospect research contributor, dug deeper into google search how do you search results different when you’re logged in or not logged in? Plus advanced search tips? It was a short course on search to help your prospect research this week b f d board financials dilemma of course that’s what b f d means what do you do for board members who can’t read your balance sheet? The authors of board members easier than you think god to non-profit finances, i can answer that. Andy robinson and nancy wasserman explain why understanding finances is critical to board members so that they preserve your good work and protect themselves to their eyes glaze over when the numbers come out, we’ll help your board achieve financial literacy also, roughly thirty two minutes into the hour on tony’s take to my block this week is our irs is helping you. They’ve got some helpful web content on a new site for non-profits i’ll talk a little about that we’re live tweeting the show this week as we do every week. Join the conversation, use hashtag non-profit radio if you have questions for our guests, send them bye twitter using that hashtag this show is supported by g grace corporate real estate services and i’m very grateful for their support even though i just flubbed that sentence, i really am grateful for their support now we take a break. And when we return, b f d board. Financials dilemma. Stay with me. Yeah, you’re listening to the talking alternative network. Durney are you suffering from aches and pains? Has traditional medicine let you down? Are you tired of taking toxic medications, then come to the double diamond wellness center and learn how our natural methods can help you, too? He’ll call us now at to one to seven to one eight, one eight, three that’s two one two, seven to one eight, one eight, three or find us on the web at www dot double diamond wellness dot com. We look forward to serving you. Is your marriage in trouble? Are you considering divorce? Hello, i’m lawrence bloom, a family law attorney in new york and new jersey. No one is happier than the day their divorce is final. My firm can help bilich we take the nasty out of the divorce process and make people happy. Police call a set to one, two, nine six four three five zero two for a free consultation. That’s lawrence h bloom two, one two, nine, six, four, three five zero two. We make people happy. Hyre oppcoll. Hey, all you crazy listeners looking to boost your business? Why not advertise on talking alternative with very reasonable rates? Interested simply email at info at talking alternative dot com. Metoo welcome back, it’s, b, f d board, financials dilemma andy robinson provides training and consulting for non-profits in fund-raising board development, marketing and earned income. He specializes in the needs of groups working for human rights, social justice, environmental conservation, historic preservation and community development. Nancy wasserman has over twenty five years of experience in community finance and social enterprise development her particular skill is working with clients on projects that must satisfy both financial and social or community goals. They worked together to co author of the book the board members, easier than you think i’d to fund to non-profit finances published by emerson and church, and i’m very glad that their collaboration brings them both to the show. Andy nancy, welcome. Thank you. Thankyou. Tony. Pleasure to have you about both. Andy. Pleasure to have you back. Good talk with you again. Thank you, nancy. Why is this important for board members to care about the financial condition of a charity? Because that’s, really? What? Your charges as a boardmember. You have the responsibility to make sure the organization is achieving its mission. And the way the best way to do that is to make sure it. Has the resource is it needs to do it, and the financial statements and the finance non-profit finances how, you know, pretty quickly, what’s going on, especially if you’ve you’ve got that information. You also have some responsibilities to the community to deliver non-profit and that does achieve its mission and does it in a responsible and raducioiu fiduciary appropriate way so boardmember czar have a fiduciary duty to the charity, right? Absolutely. To the charity and to the public at large. Okay, s so why do you say the public at large? What? Because the in the u s the internal revenue service typically gives charity’s a ah non-profit designation, which allows them to receive contributions and issue tax deductible receipts and because they us is forgoing that tax, um, on knows on those dollars and giving the public a public benefit, the irs exercises oversight of non-profit charities and make sure that they really are delivering on their charitable purpose. So there is some public money in here it’s foregone before gone tax revenue at at a bare minimum, often there’s also direct public money from government grants or government contracts. And how about financial problems that can occur within the within the within the charity, like you bring out an example in your book of people not getting their salaries paid things like that, you know you there. Is that that oversight potential here you you are running a small business on dh. You want to make sure that your employees they’re well cared for, that you’re achieving your mission in the world at large sometimes in charities will see folks, you know, giving up salary on dh or deferring payment out of the goal of achieving the mission of the organization in the long term that seriously hurts the organization because people are really watching what’s happening with the money. Where is it coming in? Where is it going? Out? And andy isn’t their potential personal liability for board members when when their problems like this. Like nancy’s describing? Well, let me first cubine disclaimer here, which is that neither nancy nor i or attorneys then we can’t give people legal advice. Okay, well, there’s, no way haven’t nobody’s given you. The listeners have not given you a retainer fee, so you know, okay, i won’t play this. Um, if there is nonpayment of payroll taxes for example, of accusation goes into debt, doesn’t pay the irs or state taxing agencies boardmember czar individually liable for that? Um, most expenses boardmember czar protected from being personally liable on, but there are some exceptions, so i don’t know that that’s what drives this conversation? I mean, four members are simply looking at the balance sheet as a way of making sure that they’re not personally liable. That’s one level on this conversation, but there’s a whole lot more levels having to do with stuff that nancy was talking about. You are we being efficient? We meeting our mission? Are we tracking our work so that we know we’re being effective and that’s really what financial management is about? Indeed, okay, there’s certainly a whole spectrum of reasons why boardmember should care. I just wanted to bring out the last one, which is there is the potential of personal liability. Um, let’s see, wei have just about a minute before a break, and i’m hoping, nancy, why don’t you introduce the idea of the the financial dashboard? And then we’ll talk a lot more about it right after this break? Sure, the financial dashboard is something we introduced. That really gives you a one page sense of how’s, the organization doing what what i’ve found happens with a lot of non-profits is that they, um, they give their boards just reams of paper. And all of a sudden you get the budget and the the performance in the balance sheet and there’s, fifteen pages of financial statements and most boardmember zeev unwanted, who do know how to read. Financials don’t plow their way through it. And so the dashboard is is essentially a one page opportunity to get a sense of how are you operating financially? Are you being efficient, and are you having an impact and let you do it in a fairly simple way? And we’ll talk a lot about that one pager right after this break, i hope you stay with us. E-giving ending duitz e-giving ding, ding, ding, ding. You’re listening to the talking alternate network e-giving. E-giving good. Are you stuck in your business or career, trying to take your business to the next level, and it keeps hitting a wall? This is sam liebowitz, the conscious consultant. I will help you get to the root cause of your abundance issues and help move you forward in your life. Call me now and let’s. Create the future you dream of. Two, one, two, seven, two, one, eight, one, eight, three, that’s to one, two, seven, two, one, eight one eight three. The conscious consultant helping conscious people be better business people. Hi, this is psychic medium. Betsy cohen, host of the show. The power of intuition. Join me at talking alternative dot com mondays at eleven a. M call in for a free psychic reading learned how to tune into your intuition to feel better and to create your optimum life. I’m here to guide you and to assist you in creating life that you deserve. Listen. Every monday at eleven a, m on talking alternative dot com. Are you feeling overwhelmed in the current chaos of our changing times? A deeper understanding of authentic astrology can uncover solutions in every area of life. After all, metaphysics is just quantum physics, politically expressed, i and montgomery taylor and i offer lectures, seminars and private consultations. For more information, contact me at monte m o nt y at r l j media. Dot com talking alternative radio twenty four hours a day. Welcome back for b f d board, financials dilemma my guests or andy robinson and nancy wasserman, co authors of the board members easier than you think guide to non-profit finances and well, we’re live tweeting the show and we have a guest live tweeted this week. She is mazarene treyz is from austin, texas. Mazarene hello, thank you for doing the live tweeting today you can follow mazarene her ideas at wild woman fund on twitter and you conjoined, of course, the conversation right now using the hashtag non-profit radio and andy, i want to throw a question to you quickly. We got a question on twitter from mazarene what if an executive director was found stealing one of the things nancy and i were talking about that kind of fraud issues earlier? Would you give them a second chance? Oh boy, well, i’d be curious to hear nancy’s answer to this. My initial response no, followed by it depends and, um actually was on the board of an organisation where we found the opposite problem, which was the board of executive director was pouring money into the organization. He emptied out his retirement account, but it wasn’t telling. Anybody? He did this because thie grants weren’t coming through, and he was too embarrassed. So that’s a that’s, a that’s, a problem of being over generous, though it is paying for it himself. Yeah, we ended up filing the guy. Yeah, and the reason was he wasn’t disclosing to the board with the board needed do its job, right? Right. And i would say the issue in that case isn’t so much as, uh, misdirection lying. So i am. I am, you know, obviously kept is a bad thing, but the board needs full disclosure from the executive director to be able to do their job. Well. And i know that’s really where i would go on that. How about you, nancy? Andi was curious to hear your answer. I know. I would say again, like andy, it depends probably depending on the amount of severity and this situation. You know, if if the executive director was borrowing twenty dollars, from the petty cash when they forgot to bring their wallet toe work one day um, clearly that’s not not egregious enoughto fire somebody. But if they’re helping themselves to the to the checking account and redirecting grants into their own bank account? Yeah. Probably caused tio tio fire them even if they pay it back, right? That really? Because they pay back with interest, that really doesn’t matter, does it? I mean, the thing about non-profits is, you know, they’re not your own private fiefdom or your own private business there. Is there a community engagement where the reason you know you have? Ah, board of directors that are the final legal responsibility for the organization. So you really shouldn’t be operating it like your own private business. Let’s, talk a little about the dashboard now, nancy, the financial dashboard we introduced earlier it’s a one pager which i think will be a relief to people that they’re not getting a sheath of financial forms and balance sheets. But what? What do you think? What key parts that should be in this financial dashboard that sort of streamline the overview for board members. I would say that that there’s really three parts to it there’s a financial part where you’re looking at, you know, sort of what’s our total budget. Um, you know, every board member of every organisation should be able to very quickly say whether the organization is a three hundred thousand dollars a year organization or five million dollars a year. Organization. That’s sort of a basic sense of scale. Um, are we making money or not? Do we have net income? Hyre, uh, do we have cash on hand? Those kinds of questions do we, uh, do we have network? So we you know, if everything had to be liquidated today, um, would there be any, any money leftover or any value left? Geever um, that that was tangible value? Not just, uh, goodwill? Um, we also want to be looking at at how efficient the organization is and efficiency changes, depending on what the organization does it it’s really sense of being able to measure you you against yourself or against industry standards and it’s, you know, the level of what it costs to deliver services, for example, to severely challenged populations versus what it takes to deliver services toe highly educated people in an urban area where they’re all easily able to get to something. The costs levels are going to be different, and and we’re not saying that they should be the same, but to know what it costs for you. To serve your clients, what it costs to have volunteers and then the impact and i don’t know, andy, if you want to talk a little bit about that impact, how you measure whether you’re meeting your mission or not, and they’re often knew miracle measures that you can think about, you know, if you’re a land trust, how many acres air you preserving? If you do mentoring with children, how many adult children matches do you have? I sometimes this is long term tracking, which is hard for a grassroots organizations to do, but in most field there are ways of measuring your impact in terms of the number of clients you’re serving, or the number of audience members who are involved and hopefully there’s some measures that you can come up with that act, the quality of your work as well. Okay, so people here is we could get this all on one page. He would have data from two years ago. You’d have data from last year. You’d have data from the current year. He could lay them out and see what the trends are. All right, that’s, the financial dashboard i love how you guys have this little dance worked out where nancy talks about the financial and efficiency parts, but then she throws it over to her co author, andy for impact, and you have it all worked out, sort of sort of taking the show over, but okay, it’s, in a good way, which which leads me to a question i said, i have to ask when two of when you co author a book, how do you decide whose name comes first? Did you just do alphabetical order? Did you flip a coin or i see i’m too narcissistic to co author with anybody but but how did you guys work that out? How did you decide that? Andy andy’s alphabetically? First on first names on last names on the honest truth is he did a lot of the writing work where as i did helped him with content, so it was very easy for andy to go. All right, so if i had come in, you wouldn’t have looked only at martignetti you would have lost her, looked at toni, and then i’d have fallen maybe to the bottom, which is probably what i would have had much to contribute to this. So you’re wise not to take you anywhere, even though i pitched you. Otherwise, you name is well known in a certain community. We might have put you first on the your publisher would never have approved that one of the questions that we ask before the show that relates to what we’re talking about now is, do you believe all your board members have at least a general understanding of your financial position? And seventy percent said yes, thirty percent said no, so that’s, pretty good, seventy percent, but the thirty percent. They’re not really very confident, right genera, and that was just a for general understanding. Okay, so the, uh, that’s the dashboard. Andy, should these things be devoted only to you the authority of the finance committee? No. I mean, i think a really good use of the finance committee is, well, stuff down. Rest of the board can understand. It provides thing and support to the rest of the board. Serve as mentors and back-up for the people on staff. We’re doing this. This book is not about house staff. Members need to do financial management mohr effectively. But the reality is a lot of people who are executive directors or even finance directors need help. And one of the goals of finance committee is to give them that help when they need it. So away to think about this is excuse me. If the board is operating at a high altitude and the staff is down on the ground slashing through the week, the finance committee is sort of in the middle there, providing a bridge between those two groups of people. And so that means that financial dashboard is for the whole board to review, right? Yes, absolutely. Was that a heck? Yes. Was that you could say? Hell, yes. Okay. Okay. Wei have another question on from twitter. Reminding listeners you can join the conversation on twitter using hashtag non-profit. Radio board members need to look at the impact of the organization. Andy, i guess this is for you since you talked about impact, how do you measure if you’re meeting your mission or not? I guess she’s looking for a little more detail. Okay, well, obviously depends what your mission is. There are some standard benchmarks for how you’re doing. Uh, if you work with substance abuse, there are networks that do that that can talk about ways of tracking your impact. For example, how many people come through a program, get clean and stay ugly if you are a food bank and you’re delivering food to the community? There’s a number of metrics there that come out of arika america’s harvest, i forget the name of the national network, but they’ll tell you how much money you should be spending more or less based on the population that you’re serving and how much when he pounds of food you can put out into the community pretty much every non-profit, um, subset has symmetric that irrelevant, and the trick is to learn the ones that are relevant. Your type of organization and then trying to adapt them to your particular need. And that would be important for the executive director toby recognizing certainly, and then right. And then conveying that too. Lord. Yes. And in some cases, depending on the size of the organization, there is some board work to help find those numbers. I mean, i work a lot with really small organizations who has a staffer overwhelmed and it be great to say to a finance committee on a volunteer basis, i’m trying to figure out what the relevant metrics are for i type art type of organization who would be willing to do some research and bring that back to us. Doesn’t aboard metoo. But, you know, in the larger organization, yeah, that’s gonna fall staff one of the other questions we asked pre show was, does your board have a committee devoted to financial issues? About eighty percent said yes and the remainder roughly twenty percent said no, nancy does there? Does there have to be a finance committee? There does not have to be a finance committee. I think it really depends on the size of the organization. The level of support. That the director might need you know, how complex the organization is and a zoo also how savvy the board is. If most of the board understands financials and feels quite comfortable with it in a small organization, you could get away without a finance committee. I’d say you want one in any organization that’s about to undertake any kind of major financial growth or change or, uh, new initiative in a larger organization. It just is a great way to assist either the finance manager or the executive director and developing budgets and exercising oversight, because things don’t happen exactly as people planned them with me today. Or andy robinson and nancy wasserman, co authors of the board members easier than you think guide to non-profit finances, let’s, let’s talk some about diversifying income sources. Nancy, you make a point of of having that in a couple of chapters of the book, why is that important? First, you never want to be totally reliant on just one thunder. You don’t want to be in a situation where if that one funders suddenly says, we don’t like what you’re doing, um, that you’re suddenly scrambling in having to find other. Ways to support your activities and your programs on what you do for this, folks. I think we’ve seen a lot of that in our recession. Agencies that rely exclusively or too heavily on, say, government fees for services or maybe even government agency grants, oer and oer foundation grants those of all sources that have been cut back. Indeed, that’s, true and that’s, part of what it’s both diversifying types of financial support but also the number of supporters within each types. So you’re not totally reliant on just one foundation or won a charitable donor-centric donors on dh foundations and government and your own revenues. If there’s a way for you to do that, we have a comment again from twitter. I’m just going to point out tio, the person who wrote that, john, that we did talk earlier about individual personal liability for non-profits. You may have missed that part of the show, but you can always catch it on the archive on itunes on our itunes pages non-profit radio dot net. Then what are andy some of the sources of income that non-profit might look to that that they’re not currently exploiting. So there’s three big buckets here, tony, the first buck, it is private e-giving private giving is foundations, corporations, individuals and, of course, lets people leave behind when they pass away the big category there’s individuals within private e-giving about eighty percent of the money year after year comes from people, and most of the groups that i work with don’t invest enough time and energy using money from individual donors. So that’s the first category second category is public funding that goverment funding from the state local, regional, municipal, all the government levels. And as you already indicated, this is a shrinking resource right now and the groups that i think you’re getting hammered the worst during the recession or they were relying on government. The third bucket is earned income, which is non-profits arching for the services they provide or in some cases selling goods, unity, and of the three that’s the biggest of all this is sort of the surprise for people is that earned income is about the same amount as private and public funding. Put together when you look at all the non-profit across the country that’s. Interesting. Yeah, you don’t generally see that in in fund-raising reports like e-giving yusa, because earned income is not part of their there. Sorry about private philanthropy there now very clear, the numbers a little skewed, because if you’re a private college and you’re charging tuition, that shows up has earned income. If you’re a private hospital and you’re charging non-profit hospital in, you’re charging for medical services that shows up as earned income, so those numbers really sort of skew the data. But i’ll i worked with a number of organizations where i’m always pushing him to say, is there something you do that you could package up cell? Do you have some skill that people would buy from way have to take a break? We’re going to talk more about earned income right after this break, stay with us. Dafs you’re listening to the talking alternative network. Are you feeling overwhelmed in the current chaos of our changing times? A deeper understanding of authentic astrology can uncover solutions in every area of life. After all, metaphysics is just quantum physics, politically expressed hi and montgomery taylor and i offer lectures, seminars and private consultations. For more information, contact me at monte m o nt y at r l j media. Dot com are you stuck in your business or career trying to take your business to the next level, and it keeps hitting a wall? This is sam liebowitz, the conscious consultant. I will help you get to the root cause of your abundance issues and help move you forward in your life. Call me now and let’s. Create the future you dream of. Two, one, two, seven, two, one, eight, one, eight, three, that’s to one to seven to one, eight one eight three. The conscious consultant helping conscious people. Be better business people. Hey, all you crazy listeners looking to boost your business? Why not advertise on talking alternative with very reasonable rates? Interested simply email at info at talking alternative dot com i said we’d come back immediately and talk about earned income, but even though i am narcissistic, i forgot it’s it’s, my this is my turn now so it’s time for tony’s take two for a moment or two. My block this week is our irs is helping you. They’re new site is called i r s stay exempt and of course there’s a link to it on this week’s block post, and that site has courses and webinars and other resource is that the irs has produced for new organizations and for existing organizations, and then they have a section called also in depth topics, and i have links not only to that site but to a few of the topics that i know that charity struggle with and that i’ve had guests on to talk about applying for tax exemption, unrelated business income and four o three b retirement plans and the unrelated business income actually is sort of a spin off topic from what we’re about to i’m about to talk about with my guests earning income so the content from the irs it’s all plain language, it’s really very easy language. Teo to grasp it’s a little hokey in some places. There’s, an instructor named coach in a bunch of the bunch of the content you’ll learn from from that guy coach. But, you know it’s, an enormous bureaucracy trying to be accessible and helpful. And i admire that so on my block this week, our irs is helping you, my blog’s that tony martignetti dot com and that’s the new girl from what it used to be. Tony martignetti dot com that is tony’s take two for friday, march second, two thousand twelve it’s march already. And this is the ninth show of two thousand twelve. Andy robinson and nancy washington. And with me, we’re talking about b f d board. Financials dilemma. Andy earned income. What? What kind of charity possibly do? What’s a should be looking at tio. Try to make some money off their activities. Their work? Well, the question i always have groups that air wondering about this is what you have. What, you two or what do you know somebody else onto have or do or no most non-profits during the service business way deliver services. Sometimes we have expertise in that area and, you know i mean there’s a structure brainstorm that people could do around this. A lot of what we do in the nonprofit world is give it away, and the really entrepreneurial organizations look at what they’re giving away and they say, it’s paying market for this and, you know, we can we can spend the rest of the show talking about this. I don’t know if you want to, but, um, there’s a lot of opportunities there, and i see many, many organizations could be more self sufficient financially if they got at figuring out what they know and how to package it up. Okay, is there an example you can share with us? Ah, charity that didn’t realize what they had and and then ended up being able to exploit it and make some money from it. Well, i’m the author of a book on the subject about selling social change, and but my favorite ample of this, um, you know, for a group for years in tucson, arizona, caldnear search their seed bank on made of american crops and you know, what they do is protect eats from going extinct by planting them and growing them and distributing them and probably thirty percent. Of their of their income, its seed sales. I mean, there’s the bank and they receive selling what they recently started doing, which was fascinating as they opened something they called state school. And these are people who want to learn about how to protect seeds, grow them as amount of the next generations, really about sort of biological and genetic buddy, okay, money, and they come to arizona for a week and they get trained and everything you need to know to run your own. C back and it’s, an organization that was sitting on this for probably thirty years, only recently realized that people would pay for that knowledge in a classroom setting. Oh, they have been doing that all for free while they hadn’t been training other people. They’ve been taking care of this, but they hadn’t been teaching on. I said, okay, and they realised there are there, you know, the whole renaissance of local agriculture in our country right now. And they thought we could tap into this there’s a market here for people who want to learn how to do this. And so they started doing this, and they’re doing this four or five. Times a year and it sells out, and they’re starting to move it around to other parts of the country. So i mean that’s one example that’s an example of knowledge, they had a knowledge and a skill that was very marketable that’s, right? And until you have you know what, you need a finalist for better words, does he need someone in the organization who had an entrepreneurial gene who can look around and say, you know what, somebody’s going to want to buy this and not every non-profit is blessed with people who think that way, and i think part of what nancy and i are trying to do in our professional lives is to get more of that thinking out into the non-profit community. Andy related. Teo diversifying income. I had a comment from linkedin this woman had just had a board meeting this earlier this week regarding the need for transparency and distribution of responsibility when it comes to finances, bookkeeping and reporting function of their historic non-profit theater, they’ve been doing their thing, they’ve been doing things their way a long time on dh one big problem is that they have a banker on the board and he doesn’t see the problems s so it sounds like and and then she says i was able to get the check writing privileges moved to another person. This is sort of segway ing into ah, conflict of interest conversation. But it sounds like maybe he was the only one writing checks. Um, i secured a nice grant from a foundation and they want a financial audit. I’m moving for a review. However fear we won’t get any more money once it’s known how ignorant the board is about accountability. Nancy drew and he’s laughing. Nancy let’s, bring you back. What would you what would you say there? Well, you know, how are we defining accountability here? Is there a lack love? But what a financial audit might uncover is in propriety. But it sounds like that’s, not the case. More likely, it’s going to it’s, not the financial audit per se, but the form nine. Ninety that you filed with the irs. Which asks you now to tell us who does the board looking financials. Um, how does is the board of informed? Has the board seen an audit? Uh, did they review it and approve it? It’s really? You know, there there’s sort of two sets of questions, the very pragmatic did did you get an audit? Did you review? What did you look at it? And then the the more important question in my mind, which i think is the question we’re trying to answer with the whole book, which is, does the board really understand what all these numbers are telling them? And ideally with with a financial audit and accountant has come in and spoken directly with the board of directors and walked through each and every page of it and talk about why the financials are the way they are and what they mean? Um, and i think both andy and i have seen, you know, numbers of organizations where there’s a lot of people sitting around the table on dh, they leave it to the banker or the investment professionals, too. You know, they well, they know about numbers, and they handle it and it’s really something that everybody needs to know how to do if only to make sure that the mission of the organization is fully addressed by by the board and the organization. This also relates, teo, the conversation about diversifying income and hear this woman, i believe she’s a fundraiser there, a volunteer fundraiser on dh trying to diversify income source, getting a grant but fearful that the grantmaker not be renewed because there isn’t the transparency and accountability that thie the the grant source will probably be. Yeah, and this is another point that was raised. He sort of came out sideways is this question about separation of duties, which is, you know, in a healthy organization, people break up that work, one person opens the envelope, somebody else writes the checks, and somebody else approves them and somebody else, uh, get the, uh, bank statement and balances the checkbook, and the idea here is that you’re trying to avoid mischief, yeah, and fraud. And if somebody says, oh, i’ll take care of all of these things, you know, maybe they have good intentions and they’re going to be perfectly honest about it, but you really need to break that into separate pieces so people can have oversight over each other, let’s, segway into conflict of interest, andy define for us what conflict of interest is we hear it so often. Yeah, well, my sense of it, at least in terms of the context we’re having here, is that if you serve on a non-profit board, your job is to put the needs of the organization above your own personal needs. And where this plays out sometimes is people who try and receive a benefit from serving on the board at the personal benefit it has nothing to do with advancing the mission of the organization where they get tricky is that in a lot of voluntary organisations, there are inherent conflicts of interest. If you goes to a private school and you’re on the board, your job is to advocate for policies that are going to benefit the children in the school, and in some case, that means they’re going to benefit your kid individually and sort of sorting those things out can be challenging, but the bottom line is the decisions you make have to put the needs of the organization in front of your own personal needs. Nancy, how can we try to avoid conflicts of interest? One of the best ways is tohave ah, a written conflict of interest policy, where you’ve already addressed some of the situations that are likely to happen before they happened, where you sit there and say, you know, no defined what it is that is seen as either a riel conflict of interests or a perceived conflict of interest. Um, which might be a case where somebody was, for example, um, can somebody bid someone who serves on the board of directors bid on a project while they’re still on the board of directors or not? Or do they have toe resigned before they even submit a bid? Or do they only resign if they’re awarded the bid? Or do they have to resign? Or can they simply step out of the room for the discussion? Those are the kinds of questions that got kind of can get kind of challenging um, particularly when any member of the board stands to benefit financially from any decision of the board that’s an outright in my mind it outright conflict of interest and, uh, in most boards, you want to make sure that person doesn’t participate. And it’s it’s always easier to have that discussion when there isn’t ah, hot potato sitting in the room, that’s somebody’s thinking that they have every right to be part of the discussion on do you have to therefore bring up both the fact that somebody in the room is feeling uncomfortable that this person is present and it gets a little bit more tense in those sorts of situations prevention, having a written policy that folks have already talked through and everybody feels responsible for making sure it’s so prevention ahead of time, much better than dealing with it when it’s a crisis or potential crisis and, you know, it also is the transparency issue. You want to make sure that your presentation to the community at large is bonem it is as unaccountable organizations that that gives everybody equal opportunity to benefit from three organizations purchases. Is this the kind of policy a boardmember should sign and review every year or something like that? It’s not a bad idea, you know, it depends on the nature of the organization. I you know, i worked with a community loan fund and that’s absolutely required that you disclose your conflicts of interest each and every year and that you review the conflict of interest policy every year bonem the other thing that you know, incredibly important, disclosed, disclosed disclosed way have just a minute before a break, andy, anything you want to add to conflict of interest discussion. I think the main thing is that if you see it, you have to name it after. If you’re boardmember and you smell something like this, you have to have the courage to bring it up and nancy said, it’s much easier to do this if there’s an existing policy in place first, if somebody sees something like this andy again just a few seconds before break, who should they bring it up to your i’ma boardmember who do i talk to? Well, i would probably go to the chair first and say, i think there’s something fishy here, let’s, talk about it and i would start there, and then presumably, the board, the chair will bring it to the full board. Andy robinson and nancy washington are my guests. We’re going to take a break. When we return, we’ll dive into some financial statements to wrap up, stay with us, talking alternative radio twenty four hours a day. Hi, i’m carol ward from the body mind wellness program. Listen to my show for ideas and information to help you live a healthier life in body, mind and spirit. You hear from terrific guests who are experts in the areas of health, wellness and creativity. So join me every thursday at eleven a, m eastern standard time on talking alternative dot com professionals serving community. This is tony martignetti aptly named host of tony martignetti non-profit radio. Big non-profit ideas for the other ninety five percent technology fund-raising compliance, social media, small and medium non-profits have needs in all these areas. My guests are expert in all these areas and mohr. Tony martignetti non-profit radio friday’s one to two eastern on talking alternative broadcast are you concerned about the future of your business for career? Would you like it all to just be better? Well, the way to do that is to better communication, and the best way to do that is training from the team at improving communications. This is larry sharp, host of the ivory tower radio program and director at improving communications. Does your office needs better leadership? Customer service sales or maybe better writing are speaking skills. Could they be better at dealing with confrontation conflicts, touchy subjects all are covered here at improving communications. If you’re in the new york city area, stop by one of our public classes or get your human resource is in touch with us. The website is improving communications, dot com that’s improving communications, dot com improve your professional environment. Be more effective, be happier. And make more money. Improving communications. That’s. The answer. Talking. Welcome back to big non-profit ideas for the other ninety five percent on tony martignetti non-profit radio. Nancy let’s. Talk a little about financial statements. What? What? Uh, what are the basics? First what’s the overview. There’s. Really? Two major statements that everybody has to deliver once the balance sheet, which is a snapshot on any given day, typically the end of the month or the end of the quarter. The end of the year. Um, which outlines what the organization owns and what they owe and what they’re worth, which is the difference between everything they own. Less everything they owe as faras it’s paper value is what they would be worth on that day. Uh, the other major statement is the statement of activities also called the profit loss or a p n l which is? Where do you get all your money? Your income your revenues from and then what does it goto pay for all your expenses and the bottom line? There is your net income at the end of end of a certain time period. The statement of activities is more like a movie. It covers a period of time. Uh, typically, uh, the beginning. Of the year to the end of the most previous sorry, the most recent months. So if we were on a board today, we probably wouldn’t see the thie statement of activities through the end of february because somebody would have had to have it all cleaned up as of yesterday. But we could expect to see something through the end of january and depending on what your fiscal year, wass would determine the begin of the beginning period. We talked earlier about full disclosure, so i’m going to make a disclosure the on ly accounting course that i’ve ever taken i dropped out of because i was i was i was going to fail, so so i’m like perfect for this book, this it’s very informative, and it is an easy read, and it is helpful guide um, nancy helped me understand i this was always seem like magic to me on a balance sheet. How is it that the assets equal the liabilities? How does that always come out so equal? I mean, its intended that way. Obviously. How does that possible? Seems like magic. Now you’re asking somebody who was not trained as a classically trained accountant. You can’t pull back now. Your name is on the book, you’re name is there. I’m looking right at it, says nancy wasserman’s. But it’s, um, it’s based on double entry bookkeeping, which was developed by the chinese and it’s follows up from the abacus. And i was sort of, uh, uh, amplified by the italians in the renaissance. Essentially, when you put an entry and double entry bookkeeping, everything that goes up, something has to go down and it all balances out in the end, in the cash comes out. And if your balance sheet that’s like number one is the balance sheet, if the total assets does not equal the total liabilities and equity, it is an incorrectly prepared balance sheet. There’s a reason they call it a balance right about yes, exactly. I love that my italian forebears had something to do with confusing me. Now in the current day. Um okay. What? How can we help? Boardmember is nancy who whose eyes kind of glaze over when they get to the balance sheet. Aside from looking to see whether the two the assets and liabilities equal which they always do right step number one is a balance number to do your total current assets. In other words, what? What? Khun b cash within a year’s time exceed your current liabilities. The things you have to pay off with cash in a year’s time. And so are you liquid or not? Do you have? Do you have cash available to do things? This’s? The place where you’re looking for those payroll liabilities or payroll tax liabilities? If there’s a number there that’s frighteningly large, you’ve got a big problem. And if its payroll tax liabilities, he was a boardmember maybe personally liable. Um, what are your long term liabilities look like? Is that that’s your debt? Basically. And, you know, does it make tense to you? Is that number reflects the debt? You know, the organization has your net net assets now, you know, the language of accounting is kind of like greek. And i sometimes think they made up all these names to make it even more confusing. It would be so much easier if it was it was italian. It could be it would be. And where there’s a lot of cognitive is and it’s a romance language. I think it would be oh, i’m sorry, no problem, but that total net assets number, which simply means, you know what? What’s this organization more if it if it had two legged liquidate today and if that’s a negative number, you should be concerned. And certainly many of organizations where that is the case. So those are the big things on the balance sheet, you know, does it? Does it short of make sense to you to the fixed assets and their value? Um, feel like what you have if he suddenly see something that shows that you have a fixed asset of, you know, equipment worth one hundred thousand dollars, you’re scratching your head because you have no idea what you have for equipment something’s wrong with and you should and should ask that question. Absolutely. You mentioned earlier frighteningly large numbers mean is part of what we should be doing is looking for anomalies. That’s really what you’re looking, you’re looking for things that you know that don’t make sense or don’t feel right or that you can’t if you can’t, if it doesn’t feel right and you can’t really explain it, you want to ask questions from and the numbers you know, the thing about numbers, they’re pretty, they’re very ghetto. They’re either on or off and, um it’s harder to lie with numbers. So you’re going to know right away that you could have frighteningly large numbers with the complex organization, and that would be fine from if if they’re bad hosed out. If there’s cash in the bank, if it feels like there’s equity, this is ah critical subject. Another question that i asked on the on the pre show survey is for those charities that do have a board committee devoted to financial issues. Are you confident that each committee member is fluent in your numbers and understand your financial position? Only twenty five percent said yes, the remaining seventy five percent were either no or not sure on dno was pretty large about sixty percent way have to stop there. Andy robinson and nancy wasserman are co authors of the board members easier than you think. Guide to non-profit finances published by emerson and church andy. Nancy, thank you very much for being guests. Thank you. It’s. Been a real pleasure. And also thanks to your publisher, kathleen brennan at emerson and church for her promotion assistance for the show next week you know his company and you may be wearing his name on your hoody market go ceo of the very consistent brand echo enterprises has ideas on branding and other business lessons applicable to charities, and craig newmark, the founder of craigslist and craigconnects, shares his thoughts on simple communications. Thes were both pre recorded at last year’s nextgencharity conference keep up with what’s coming up! 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