successful start for new nonprofit executive directors
TRANSCRIPT
Margaret Linnane, Executive Director, Edyth Bush InstituteSeptember 8, 2016 | 11:00 AM – 11:30 AM
Margaret Linnane is the executive director of the Edyth Bush Institute. Prior to the Institute, Ms. Linnane was the executive director of the Second Harvest Food Bank of Central Florida for 18 years. Her extensive experience in resource development, program and fiscal management, and community outreach were paramount in selecting her to lead the Edyth Bush Institute in 2004.
Ms. Linnane is the past Chair of the Board of Directors of Florida Nonprofit Alliance, the statewide association formed to provide a collective voice for nonprofits at the local, state and federal levels. A past recipient of the prestigious Martin L. Bell Memorial Scholarship, a full-tuition scholarship awarded annually to a nonprofit executive in the Executive MBA Program at the Roy E. Crummer Graduate School of Business, Ms. Linnane holds an MBA and a B.A. from Rollins College.
1. Be a listening leader
2. Know your operations
3. Understand your financials and internal controls
4. Understand your funding sources
Get one-on-one time with every board member
• “Tell me about yourself.”
• “Why do you serve on this board?”
• “What do you think that we, as an organization, do really well?”
• “How do you prefer we communicate (email, phone, etc.)?”
Get one-on-one time with every staff member
• “Tell me about yourself.”
• “ Why do you choose to work here on this mission?”
• “What do you think are our biggest challenges?”
• “Do you have ideas for how we can improve?”
Talk to Clients• Ask recurring clients about their experience
• “What is different for you because you receive services here?”
Talk to Volunteers
• “What is it about this mission that draws you?”
• “Do you feel well-utilized when you’re working here?”
“In God We Trust. All Others Must Bring Data.”
-- W. Edwards Deming
• Review the current performance metric dashboard that focuses on and demonstrates results
• Work with staff to review and decide what should be measured
Grab a hold of your finances!
• Review budget, last month’s P&L, balance sheet, cash flow statement
• Review month-end statements from every account – checking, savings, investment, etc.
• Note if the statements were reconciled
• Be sure to receive these reports monthly
Internal Money Management
• Who opens mail?
• Who deposits money?
• Who records deposits?
• Do you ever receive cash? How is it handled?
• Who writes checks?
• Who records checks?
• Does the Board Treasurer review the financials?
How is the organization funded?• Annual giving?
• Special events?
• Major gifts?
• Grants?
• Individual giving?
• Others?
What percentage of the organization’s income
comes from what sources?
Call to introduce yourself and thank the following:
• 5-10 individuals who made the largest single donations
• 5-10 individuals who made the largest total cumulative donations
• 5-10 individuals who made the most frequent donations
1. Be a listening leader
2. Know your operations
3. Understand your financials and internal controls
4. Understand your funding sources
