Board Member Perspective – Financial Information to Review
If you belong to more than one nonprofit board you may have noticed that each one may present a somewhat different set of financial information at board meetings. Do you know what is the appropriate information to present and examine? In order to comply with your fiduciary duty, you should be presented with complete, accurate,…
Read MoreChronic Cash Flow Problems
But these situations are usually clear to see, easy to prepare for, and usually short-lived. When an organization has chronic cash flow problems, the root may be the lack of proper planning and monitoring.
Read MoreNews Release: Accomplished Local CPA Will Instruct Class at Prestigious National Conference
Maribel Ponist will instruct Dissecting the Non-Profit Vertical for Client Accounting Services at the AICPA and CPA.com’s 2014 Digital CPA Conference Chevy Chase, MD—December 2, 2014—The CEO/Director of Client Accounting Services of Lumix CPAs and Advisors, Maribel Ponist, will be teaching a class on client accounting services at the Digital CPA Conference, December 8-10, 2014.…
Read MoreIn Search for Balance & Purpose, Part II
So your books are balanced. In fact, you have supported the major balances in your balance sheet and have traced the activity in your statement of revenues and expenses. The reports are ready to be published. Now what? What is the purpose of these historical reports? In my first article, I presented my opinion on…
Read MoreIn Search for Balance & Purpose, Part I
We are constantly looking for balance in our lives. Balancing work and family is a popular concern, as is balancing our investments or even balancing our diets. Can anyone ever claim to have successfully achieved balance in these areas of their lives? Once we achieve it, can we maintain it? And then, how do we…
Read MoreBoard Responsibilities and Liabilities
I recently attended the BoardSource Leadership Forum called Governance by Design as an exhibitor. The classes were created to provide information to CEOs and Board members. I attended with two objectives in mind: My objective as an exhibitor was to meet potential clients. My objective as the treasurer for a non-profit organization was to learn…
Read MoreLearn It Here, Apply It Anywhere
When I accepted the job offer from Lumix coming out of college, I was a bit nervous to change industries—my internships were related to politics, media, and outreach. Simply put, none of the outlets I worked at were CPA firms. I quickly realized the skills I would learn here are transferable and that a successful…
Read MoreLittle Fish in a Big Pond: Controlling Your Nerves at a Networking Event
Networking at a big event can be a daunting task, depending on who you ask. For the new guy, it can be quite the obstacle. Imagine my surprise when my supervisor told me that I, the new digital media assistant, would be attending the CEO Updates/Leading Authorities Association Leadership Awards with our firm’s senior management.…
Read MoreSharpen Your Thinking by Jumping Out of an Airplane
When your work team needs you at a crucial juncture, will you be the one to step up? When an opportunity comes calling, will you be in the position to seize the chance? How do you put yourself in a position to succeed? Answer: Invest in yourself to sharpen your thinking. It’s tough out there.…
Read MoreDashboard Reports Rotation
Only ten minutes into my call with the board’s treasurer and we had already brought up six different financial reports we could prepare and present at the next board meeting. Each presented the organization’s achievements and shortfalls from a different perspective, and all presented information important for the board’s awareness and discussion. But honestly, six…
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