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Building a Power Board, Strategies for Success


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Building a Power Board, Strategies for Success

  1. 1. Good Afternoon! Building a POWER Board, Strategies for Financial Success!...
  2. 2. Your Board and Fundraising <ul><li>Presented by </li></ul><ul><li>Rebecca Gordon </li></ul><ul><li>Director of Development </li></ul><ul><li>Missouri KidsFirst </li></ul><ul><li> </li></ul><ul><li>[email_address] </li></ul>
  3. 3.
  4. 4. The First Step - You must build a POWER BOARD!
  5. 5. Great boards, once developed, actually remove burdens from management’s shoulders and inspire individual board members to increase their commitment.
  6. 6. More importantly…….Great Boards <ul><li>Bring Expertise </li></ul><ul><li>Strategic Guidance </li></ul><ul><li>Financial Support </li></ul><ul><li>PASSION </li></ul>
  7. 7. Ensuring Leadership and Resources <ul><li>The oft-quoted phrase “give, get, or get off” underscores the importance nonprofit organizations place on the fund-raising role of the board. </li></ul>
  8. 8. Ensuring Leadership and Resource <ul><li>In 2002, McKinsey and Company interviewed all 100 organizations named as top performers by Worth Magazine in 2001. </li></ul><ul><li>All 100 nonprofit organizations had 100% board participation in giving and getting. </li></ul>
  9. 9. We want a new board …..where do we start?
  10. 10. Building a Power Board – Converting Desire to Reality <ul><li>Converting the desire to build a high-performing board into a reality requires a combination of commitment and patience. </li></ul><ul><li>The board’s understanding and willingness to commit the time and work required is critical to the effort’s success. </li></ul>
  11. 11. <ul><li>Meeting the Challenge of reaching abused children. </li></ul>
  12. 12. <ul><li>“ 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” </li></ul><ul><li>Association of Fundraising Professionals – Keys to Successful Organizations. </li></ul>
  13. 13. Missouri KidsFirst Executive Power Board Advisory Committee Program Committee
  14. 14. Power Board <ul><li>Key Functions </li></ul><ul><li>Resource Development </li></ul><ul><li>Strategic Leadership </li></ul><ul><li>3. Governance/Oversight </li></ul>Power Board
  15. 15. Developing Financial Resources ( 50% of time and focus) <ul><li>The Board sets measurable objectives for Board Members’ leadership giving and getting. </li></ul><ul><ul><li>Members are asked to make ambitious leadership level gifts reflective of personal capacity. </li></ul></ul><ul><ul><li>Members are expected to identify, open doors to and advocate with potential donors. </li></ul></ul><ul><ul><li>Members work in concert with appropriate staff the thank donors. </li></ul></ul>
  16. 16. Provide Strategic Leadership (25 % of time and focus) <ul><li>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. </li></ul><ul><li>The Board works collaboratively with the Program Board and organization staff. </li></ul>
  17. 17. Provide Governance and Oversight (25 % of time and focus) <ul><li>Select motivate and evaluate top CEO/ED </li></ul><ul><li>Develop Board Performance Expectations </li></ul><ul><li>Ensure adherence to all legal, ethical and regulatory requirements. </li></ul><ul><li>Provide Financial Oversight </li></ul><ul><ul><ul><ul><ul><li>Review financial management policies and procedures </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Review and approve the annual budget </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Ensure an effective audit </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Review Risk management policies and procedures </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Review and plan for operating reserves. </li></ul></ul></ul></ul></ul>
  18. 18. 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.
  19. 19. Composition Grid <ul><li>Fundraising </li></ul><ul><li>Program Expertise </li></ul><ul><li>Legal Skills </li></ul><ul><li>Financial Management </li></ul><ul><li>Marketing </li></ul><ul><li>Leadership Potential </li></ul><ul><li>Gender </li></ul><ul><li>Location </li></ul><ul><li>Race/Ethnicity </li></ul><ul><li>Time </li></ul><ul><li>Treasure </li></ul><ul><li>Talent </li></ul>
  20. 20. Four Final Elements to Consider <ul><li>Make careful decisions on board size and structure. </li></ul><ul><li>Actively manage board composition </li></ul><ul><li>Inspired board and committee leadership </li></ul><ul><li>Simple administrative practices and processes ,made routine. </li></ul>
  21. 27. We have our what? Now how do we get them to raise money?
  22. 28. Remove Barriers... <ul><li>Make a personal gift </li></ul><ul><li>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. </li></ul>
  23. 29. Board Roles in Fundraising <ul><li>Make a personal financial gift </li></ul><ul><li>Strengthen relationships with current donors </li></ul><ul><li>Identify and introduce new prospects </li></ul><ul><li>Be an ambassador - spread the word </li></ul><ul><li>Ask for support </li></ul>
  24. 30. Questions?.......