I 501(c) You - The Podcast for NonProfit Board Members

Bankruptcy is a means to an end... not a destination with Steven Solomon

This week on I 501(c) You, we are hearing from Steven Solomon, Managing Shareholder of GrayRobinson’s Miami office and Chair of the firm’s Bankruptcy Section. This is a unique episode because we get to learn all about nonprofit bankruptcy and how it can be used as a strategic vehicle. We hope this can provide your organization with a little information about another resource to potentially think about if your organization runs into some trouble. Bankruptcy is not for every organization, but as a board member, you have a fiduciary responsibility to explore all options if things are going awry.
Steven walks us through some of the reasons a nonprofit would file for bankruptcy, some of the factors they should consider when thinking about bankruptcy, and how a nonprofit organization can use bankruptcy as a strategic vehicle.
Some of the major takeaways from this episode are:
Bankruptcy is not a destination, it is a means to an end.
When going through bankruptcy as a nonprofit, communication to the public and your largest stakeholders is EXTREMELY important.
This is another great reason to have a diverse range of expertise on your board.
We hope this episode is as informative to you as it was to us. We learned so much about bankruptcy and how it can help or hurt a nonprofit organization.
Timestamps:
00:43 - Interview starts
01:38 - Reasons why a nonprofit would think about bankruptcy
03:55 - Does the size of the organization matter?
04:20 - Bankruptcy is not a destination, it is a means to an end
07:30 - Examples of strategic bankruptcies
12:40 - When would a nonprofit organization consult with a bankruptcy lawyer
16:30 - Types of bankruptcy
18:00 - Bankruptcy code of assets for nonprofit organization
19:50 - Chapter 11 bankruptcy for a nonprofit organization
21:45 - Who calls you, board chair/executive director?
23:20 - Bankruptcy as a strategic vehicle
27:00 - One of the first questions Steven asks nonprofit organizations considering bankruptcy
34:20 - Final thoughts
37:49 - Recapping with Read
Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization.
Visit us at: www.thecorleycompany.com

Passion Driven Leadership with Shawn Sackman

This week on I 501(c) You, we are speaking with Shawn Sackman, Urban League of Broward County Board Chair, Commercial Banking Leader at Regions Bank, a top 250 Power Leader by the South Florida Business Journal, and much much more.
Shawn is a servant leader to the fullest extent. He was once actively serving on 5 boards (being the board chair on one), coaching his children's sports teams, and working full time. He has always had a passion for giving back, finding the most joy when he sees the outcome of his volunteer work bring joy to other people.
Shawn provides some amazing advice for board leadership, career development, and finding the right board to serve on. We can't forget to mention, he lights a fire inside you to jump in and give back. 
Some major takeaways from our conversation with Shawn are:
It is not a unique problem to not know how to "get involved in the community". It is a learned skill.
For the Board Chair/CEO relationship, develop some informal communication habits. Business moves too fast to wait for a meeting.
When thinking about becoming a board chair or board member, make sure the organization "checks your boxes".
Timestamps:
00:00 - Introduction
01:09 - Interview starts
01:50 - Why do you choose to serve on nonprofit boards?
04:59 - First board you joined and how old were you?
09:00 - Why do you desire to be a board chair?
12:09 - How do you approach the role of board chair?
17:08 - How do you start to manage the board and the relationship with the CEO
23:15 - Alignment and communication with the CEO
28:00 - Highlights of your board chair career?
29:58 - What to do when a board member passes away?
32:59 - Advice for someone thinking about being a board chair?
38:38 - Recapping with Read
Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization.
Visit us at: www.thecorleycompany.com

Don’t be bashful about joining a board for career growth, but... w/ Johnette Gindling

This week on I 501(c) You - The Podcast for NonProfit Board Members, we are speaking with Johnette Gindling, President and CEO of the Space Coast Health Foundation.
Johnette brings a wealth of knowledge to the podcast as she has sat on a number of boards and been a board chair, on top of being the President and CEO of a foundation.
Some major takeaways from this episode are:
Don't be bashful about joining a board for career growth purposes... but don't join a board you are not willing to give time and effort to.
Staff spends a lot of time putting together board packets for board meetings. Be respectful of everyone's effort and be prepared when attending board meetings.
When recruiting new board members, think about a potential board members "fit" within the team.
Hurricane Ian Relief:
Sarasota Memorial Healthcare Foundation Employee Relief Fund:
“To provide financial assistance to qualified SMH employees who are adversely affected by Hurricane Ian.”
Community Foundation of Sarasota County Suncoast Disaster Recovery Fund:
“To provide recovery support to the Suncoast Region in response to a natural disaster. The fund will allow investments in long-term, long-range programs to sustain our agencies after initial emergency relief is provided.”
Center for Disaster Philanthropy Atlantic Hurricane Season Recovery Fund:
“This Fund will focus on medium- and long-term recovery needs such as rebuilding homes and livelihoods, meeting the unique needs of vulnerable communities, and supporting mental health services.”
Gulf Coast Community Foundation Disaster Relief Fund:
“Gulf Coast Community Foundation’s Hurricane Ian Disaster Relief Fund will support those most devastated. We will prioritize health and human services needs primarily in southern Sarasota County including Venice, hard-hit North Port, Englewood, Charlotte County, Lee County, and DeSoto County.”
 
Timestamps:
00:00: Hurricane Ian Relief
00:17: Intro starts
00:55: Interview starts
01:27: How do you decide which organization you want to be on the board of and involved in?
03:35: Understanding Board finances without a finance background
06:15: A board members obligation to learn
09:34: Qualities of an effective board member from the CEO perspective
11:19: Read the organization’s by-laws before joining the board!
12:50: How do you identify future board members?
15:09: As a CEO, don't take for granted the importance of social time for your board
15:53: CEO and Board Chair role and relationship
18:50: As a CEO, keeping your board up to date
20:10: What are some characteristics of an effective and ineffective board member?
22:53: Boards are entitled to any information they want
24:00: As a board member, what makes for an effective board meeting?
27:24: As a CEO, getting calls after a board meeting?
28:23: The importance of communication between board meetings
30:25: What advice would you give to young people when joining a board?
32:04: What advice would you give to someone thinking about being Board Chair?
34:30: Recapping with Read
 
Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization.
Visit us at: www.thecorleycompany.com

From Board Chair to CEO... of the same organization? With Will Armstead

In this episode we speak with Will Armstead, CEO and former Board Chair of Boys & Girls Clubs of St. Lucie County, the largest non-profit youth development organization on the Treasure Coast.
After serving 16 years in the Army and 20 years in the for-profit industry, Will became CEO of Boys & Girls Clubs of St. Lucie County, driven by his personal mission- to give every child opportunities for a great future.
For Hurricane Ian Relief and Timestamps for this episode, please see below:
Hurricane Ian Relief:
Sarasota Memorial Healthcare Foundation Employee Relief Fund:
"To provide financial assistance to qualified SMH employees who are adversely affected by Hurricane Ian."
Community Foundation of Sarasota County Suncoast Disaster Recovery Fund:
"To provide recovery support to the Suncoast Region in response to a natural disaster. The fund will allow investments in long-term, long-range programs to sustain our agencies after initial emergency relief is provided."
Center for Disaster Philanthropy Atlantic Hurricane Season Recovery Fund:
"This Fund will focus on medium- and long-term recovery needs such as rebuilding homes and livelihoods, meeting the unique needs of vulnerable communities, and supporting mental health services."
Gulf Coast Community Foundation Disaster Relief Fund:
"Gulf Coast Community Foundation's Hurricane Ian Disaster Relief Fund will support those most devastated. We will prioritize health and human services needs primarily in southern Sarasota County including Venice, hard-hit North Port, Englewood, Charlotte County, Lee County, and DeSoto County."
United Way Suncoast Disaster Recovery Fund:
"Support relief efforts in DeSoto, Sarasota, Manatee, Pinellas and Hillsborough"
Timestamps:
(02:40) - Interview starts
(03:19) - Will introduces himself
(03:52) - How and why Will became CEO
(04:30) - Biggest transition from the for-profit world to non-profit world
(05:19) - Share a little bit about your role as a board member and the differences between Board member and CEO
(06:50) - Composition of a board from a CEO’s perspective
(08:24) - How do you identify a potential board member?
(10:43) - Expectations of a board member?
(18:00) - Relationship between CEO and Board Chair
(20:10) - Advice for when a board member is too involved with staff or operations?
(22:12) - How often should a board chair communicate with the board and the importance of communication
(24:50) - Properly engaging with your board and board chair
(29:07) - Advice you have to CEO’s when working with the board
(30:29) - Advice you have to Board members when working with the CEO and the organization
(32:41) - Recapping with Read
 
Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization.
Visit us at: www.thecorleycompany.com
 

Everything You Need to Know About Joining a Nonprofit Board with Susie Bowie

In the inaugural episode of I 501(c) You - The Podcast for NonProfit Board Members, we are joined by Susie Bowie, Executive Director of the Manatee Community Foundation to discuss everything you need to know about joining a nonprofit board.
Susie is a fountain of information and eloquently describes the role of a nonprofit board member. She has so much experience in this realm, being both a nonprofit Executive Director and board member of several organizations. Together, we discuss the attributes of a productive and unproductive board member, how young people can get involved in boards, thoughts on board members being required to financially contribute, how to get a better understanding of financials from a board's perspective and more!
We thank Susie so much for joining us today and sharing her wisdom. We both believe that board members are critical to the success of an organization and we want to make sure every board member can provide their best service to their organizations.
Key Takeaways:
Board members should come to the table ready to learn.
Young people can still bring value to a nonprofit board.
Board members can be a doer, donor, or door opener in order to help with fundraising.
Nonprofit staff members are extremely experienced and knowledgeable.
Listen to learn.
Timestamps:
00:00 - Introduction
00:50 - Interview starts
1:30 - What makes a good board member?
03:15 - Any traits that make an individual NOT a good board member?
05:05 - Has it become more challenging to share ideas in a board meeting?
08:20 - Is it the board members job to defend the mission of the organization
09:58 - How do I go about getting on a nonprofit board?
14:06 - What are your thoughts on board members having to financially contribute to the organization?
17:00 - How should someone behave as a new board member?
20:00 - How do you recommend someone get comfortable with board financial statements?
24:00 - What is the difference between a board member and staff member's responsibilities?
27:10 - What is the role of a board member in fundraising?
29:40 - Connecting the organization to new people as a board member is critical
31:35 - What are some of the most misunderstood aspects of being a board member?
35:25 - Respecting the skills of nonprofit leaders and staff
40:45 - Anything else?
41:50 - Recapping with Read
Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization.
Listen to the podcast on any of the following platforms:
Apple Podcasts
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Visit us at: www.thecorleycompany.com/podcast
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Episode 00 - I 501(c) You

Welcome to I 501(c) You - The Podcast for NonProfit Board Members. We hope to educate current and future nonprofit board members on the roles, responsibilities, and obligations of being a nonprofit board member.
Join us every week for a new episode to learn the best practices for being a NonProfit Board member.
Visit us at www.thecorleycompany.com