Building a Power Board, Strategies for SuccessPresentation Transcript
Good Afternoon! Building a POWER Board, Strategies for Financial Success!...
Your Board and Fundraising
Director of Development
The First Step - You must build a POWER BOARD!
Great boards, once developed, actually remove burdens from management’s shoulders and inspire individual board members to increase their commitment.
More importantly…….Great Boards
Ensuring Leadership and Resources
The oft-quoted phrase “give, get, or get off” underscores the importance nonprofit organizations place on the fund-raising role of the board.
Ensuring Leadership and Resource
In 2002, McKinsey and Company interviewed all 100 organizations named as top performers by Worth Magazine in 2001.
All 100 nonprofit organizations had 100% board participation in giving and getting.
We want a new board …..where do we start?
Building a Power Board – Converting Desire to Reality
Converting the desire to build a high-performing board into a reality requires a combination of commitment and patience.
The board’s understanding and willingness to commit the time and work required is critical to the effort’s success.
Meeting the Challenge of reaching abused children.
“ A Growth Organization requires a strong board and strong executive leadership. A growth agency needs a board that leads the way in developing financial resources. A growth agency needs a board that oversees the financial performance of an organization and supports the executive staff’s efforts to manage for performance and accountability and build capacity”
Association of Fundraising Professionals – Keys to Successful Organizations.
Missouri KidsFirst Executive Power Board Advisory Committee Program Committee
Developing Financial Resources ( 50% of time and focus)
The Board sets measurable objectives for Board Members’ leadership giving and getting.
Members are asked to make ambitious leadership level gifts reflective of personal capacity.
Members are expected to identify, open doors to and advocate with potential donors.
Members work in concert with appropriate staff the thank donors.
Provide Strategic Leadership (25 % of time and focus)
The Board works to advance the agency’s vision and mission and plays a leadership role in the effort to develop and adhere to a long-term strategic plan.
The Board works collaboratively with the Program Board and organization staff.
Provide Governance and Oversight (25 % of time and focus)
Select motivate and evaluate top CEO/ED
Develop Board Performance Expectations
Ensure adherence to all legal, ethical and regulatory requirements.
Provide Financial Oversight
Review financial management policies and procedures
Review and approve the annual budget
Ensure an effective audit
Review Risk management policies and procedures
Review and plan for operating reserves.
Getting the right people on the board is essential. To build the required composition, the nominating committee will identify gaps in composition based on current institutional priorities.
Four Final Elements to Consider
Make careful decisions on board size and structure.
Actively manage board composition
Inspired board and committee leadership
Simple administrative practices and processes ,made routine.
We have our board...now what? Now how do we get them to raise money?
Make a personal gift
Change the language.... it’s not about talking your friends out of money - its about giving your friends an opportunity to get involved in something important to you.