1. Not For Profit Seminar

2. 2 Understanding Your Goals 1. What is Your Mission I.Socially Focus Track and Manage Resources Be Careful of Competing Goals II. Financially Define Growth Targets Will Community Support Be Financial or Program Oriented Funding  Government  Donations  Fee For Service  Fundraisers $ $  

3. 3 Understanding Your Goals 2. 1-3-5 Year Plans I.Set Attainable Measurable Goals  Define the goal  Decide what are long and short term successes  Construct accurate measurements of success  Celebrate short term successes

4. 4 Corporate Governance 1. The Board I.Does the board represent a broad set of expertise II. Is the board active in the organization III.Does the board donate IV.How many board meetings / retreats annually  Must have at least three  Must have a quorum V.Are any board members also paid employees I.Executive compensation laws

5. 5 Corporate Governance 2. Internal Controls I.Does the board have  Finance Committee and policies  Audit Committee and policies  Policies regarding loans and signatories II.Operating Budget  What percentage of funds go to - Programs - Management - Entertainment / Fundraising - Profesional fees - “Outside Consultants”  Do expenses remain fixed respective to revenue  Are all funds Traceable and accurate?

6. 6 E / R E / R = 500 / 1000 =.5 = 50%

7. 7 Corporate Governance Accounting ̶ Balance sheet Assets –Liquid vs non liquid –Restricted vs non restricted Liabilities and net assets –Short term vs long term ̶ Statement Of Activities ( income statement ) Income –Donations –Fundraising –Dues –Fee for service Expenses Change in net assets

8. 8 Questions