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The Importance of Your First Year of Board Service
Articles A. Michael Gellman (CPA, CGMA) Articles A. Michael Gellman (CPA, CGMA)

The Importance of Your First Year of Board Service

Serving on a nonprofit organization’s Board can be a rewarding and often life-changing experience. The first year of Board service will set the stage for the remainder of your time on the Board and directly affect opportunities for engagement, impact, visibility, quality of experience, and advancement. Our 4-part New Board Member Planning and Preparation Series aims to help new Board members set basic goals and develop realistic expectations for success during this critical early stage of their Board tenure.

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With Your First Year of Board Service Complete, What’s Next?
Articles A. Michael Gellman (CPA, CGMA) Articles A. Michael Gellman (CPA, CGMA)

With Your First Year of Board Service Complete, What’s Next?

As your first year of nonprofit Board service winds down, it is time to pause and reflect on the past year and start setting goals for year two. Your first year of Board service is all about learning and observing. Learning about the organization’s strategic plans and culture while observing engagement of fellow Board members. For the second year, your emphasis should shift to purposeful commitment based on what you learned in year one.

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Planning for Your First Year of Board Service
Articles A. Michael Gellman (CPA, CGMA) Articles A. Michael Gellman (CPA, CGMA)

Planning for Your First Year of Board Service

With your first nonprofit organization Board meeting completed there is a tendency to relax, as the natural concerns and hesitancies that come with taking on a new role with new experiences start to dissipate. Avoid taking your foot off the gas. Now is the time to turn your thoughts to the year ahead and how you can make the most of your first year of Board service.

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Preparing for Your First Board Meeting as a New Board Member
Articles A. Michael Gellman (CPA, CGMA) Articles A. Michael Gellman (CPA, CGMA)

Preparing for Your First Board Meeting as a New Board Member

You only get one first Board meeting as a new Board member of a nonprofit organization. Thoughtful front-end preparation for your first Board meeting is essential to help you to make a lasting impression that you are serious about your commitment and appreciative of the honor.

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Three Steps to Get Your New Board Member Service Off to a Good Start
Articles A. Michael Gellman (CPA, CGMA) Articles A. Michael Gellman (CPA, CGMA)

Three Steps to Get Your New Board Member Service Off to a Good Start

You’ve just been appointed to the Board of a nonprofit organization you believe in and trust. Now what? The time between receiving this good news and beginning your Board service is important for laying the groundwork to be an impactful Board member. I have always found that putting in a little extra effort before your Board service starts will help both you and the organization get the most out of the relationship.

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Audit Planning Calendars Can Make Audits Less Stressful and More Efficient [SUBSCRIBERS-ONLY]
Subscribers-Only, Articles A. Michael Gellman (CPA, CGMA) Subscribers-Only, Articles A. Michael Gellman (CPA, CGMA)

Audit Planning Calendars Can Make Audits Less Stressful and More Efficient [SUBSCRIBERS-ONLY]

Financial statement audits have natural “built-in tensions” between nonprofit organizations and their independent auditors. These tensions are advantageous from a checks and balances point of view but can lead to communication challenges if not properly managed. Agreeing on a detailed planning calendar at the front end of the audit will make for a less stressful and more efficient audit process.

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Aligning Investing Purpose to Institutional Mission and Culture [SUBSCRIBERS-ONLY]
Subscribers-Only, Articles A. Michael Gellman (CPA, CGMA) Subscribers-Only, Articles A. Michael Gellman (CPA, CGMA)

Aligning Investing Purpose to Institutional Mission and Culture [SUBSCRIBERS-ONLY]

An increasing number of nonprofit organizations are implementing mission aligned investing and this approach may soon become an expected best practice. Core investment acumen will always be focused on safety, liquidity, and return on investment (ROI), balancing the risk/reward of these three key investment pillars. However, many nonprofits with investable funds now consider mission aligned investing as an important fourth pillar of their investment strategy.

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Three-Dimensional Financial Messaging
Articles, Subscribers-Only, Subscription Preview A. Michael Gellman (CPA, CGMA) Articles, Subscribers-Only, Subscription Preview A. Michael Gellman (CPA, CGMA)

Three-Dimensional Financial Messaging

The delivery and interpretation of financial reports is a complex and sometimes unpredictable process. It becomes even more complicated when you realize that the target audience consists of multiple end-users who will be considering financial information from multiple points of view. Effective financial messaging tactics that incorporate a three-dimensional (3-D) tactical approach will give you more options and opportunities to connect with the many different types of users of financial information.

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Weighing the Benefits of 501(c)(3) Status
Articles Benjamin Takis Articles Benjamin Takis

Weighing the Benefits of 501(c)(3) Status

One of the most important but overlooked steps in forming a new 501(c)(3), nonprofit organization is to make a fully informed decision about whether the benefits of 501(c)(3) status are worth pursuing in the light of the many compliance burdens that come with operating a charitable organization. This important choice is difficult to change once an organization is formed, so we included this as Step 1 in our new guide sheet: Steps to Forming a 501(c)(3), Nonprofit Organization.

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Adding Pre-Month-End Closing Meetings Can Enhance Financial Communications [SUBSCRIBERS-ONLY]
Subscribers-Only, Articles A. Michael Gellman (CPA, CGMA) Subscribers-Only, Articles A. Michael Gellman (CPA, CGMA)

Adding Pre-Month-End Closing Meetings Can Enhance Financial Communications [SUBSCRIBERS-ONLY]

I am always looking for efficient, creative, and low risk opportunities to improve financial communications. This usually involves both art and science, a mix of creative and structured tactics. Adding pre-month-end closing meetings is a value-added practice that takes advantage of both tactics with high upside potential for positive results.

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Time to Take a Fresh Look at Old Board-Designated Funds [SUBSCRIBERS-ONLY]
Subscribers-Only, Articles A. Michael Gellman (CPA, CGMA) Subscribers-Only, Articles A. Michael Gellman (CPA, CGMA)

Time to Take a Fresh Look at Old Board-Designated Funds [SUBSCRIBERS-ONLY]

In my professional life I view many financial statements from a wide variety of nonprofit organizations, and I am always amazed, but not shocked, by how many of these nonprofits have Board-designated funds sitting on their balance sheets. Two questions immediately come to mind. Why where they originally established? Is the purpose still relevant today? Often the answers lie in understanding the circumstances occurring at the time the Board originally designated the funds.

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Can a Sketch Work Better Than a Financial Forecast? [SUBSCRIBERS-ONLY]
Subscribers-Only, Articles A. Michael Gellman (CPA, CGMA) Subscribers-Only, Articles A. Michael Gellman (CPA, CGMA)

Can a Sketch Work Better Than a Financial Forecast? [SUBSCRIBERS-ONLY]

Business, financial, and operational professionals love concepts related to financial forecasts. It is our way to view an abstract complicated plan in terms of dollars and the impact on resources both positive (surpluses – add to resources) and negative (deficits – use of resources). But outside our inner circle, forecasts are often viewed with misunderstanding, trepidation, and sometimes even fear. Taking a “sketch” approach can help people to embrace financial forecasts, enhance engagement, and be more confident with planning for new projects and efforts.

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Part VI, Section A of the Form 990 Shines a Light on Your Board and Governance Practices
Articles A. Michael Gellman (CPA, CGMA) Articles A. Michael Gellman (CPA, CGMA)

Part VI, Section A of the Form 990 Shines a Light on Your Board and Governance Practices

Part VI, Section A of the Form 990 asks many probing questions related to a nonprofit organization’s “Governing Body and Management.” How an organization chooses to respond to these questions will directly impact perceptions of the quality of its management systems and the integrity of its governance practices, so be thoughtful and complete with your responses.

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Past Presidents Can Be a Powerful Resource or a Missed Opportunity
Articles A. Michael Gellman (CPA, CGMA) Articles A. Michael Gellman (CPA, CGMA)

Past Presidents Can Be a Powerful Resource or a Missed Opportunity

I have looked at many lists of Past Presidents for nonprofit organizations and been amazed by the roster of names, but I am often disappointed at how many Past Presidents have become lost connections. High performing nonprofits keep their Past Presidents engaged and connected with meaningful active roles that are thoughtful and strategic.

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A Lesson for Nonprofits about Public Perception from the Crisis Text Line Controversy [SUBSCRIBERS-ONLY]
Subscribers-Only, Articles Benjamin Takis Subscribers-Only, Articles Benjamin Takis

A Lesson for Nonprofits about Public Perception from the Crisis Text Line Controversy [SUBSCRIBERS-ONLY]

A controversy involving the nonprofit organization Crisis Text Line’s sharing of anonymized data with a related for-profit entity has been a major topic of conversation recently following a lengthy report by Politico. While the specifics of this situation may be unique, this story is a lesson to all nonprofits that public perception should always be considered as one of the main factors in any decision, and this public perception can be just as important as legal formalities.

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