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

990s, Audits, and Fraud Mitigation with Brian Carter, CPA & Jacob Kinsel, CPA

This week, we speak with Brian Carter and Jacob Kinsel, both are CPAs at Mauldin & Jenkins. Together, Brian and Jacob provide a masterclass on the financial statements and audits for nonprofit board members. Including an overview of the 990, what boards should be aware of during the audit process, and how nonprofit boards can mitigate fraud. If you listen to any part of this episode, listen to 14:12, where Brian highlights 7 areas of the 990 board members should be aware of.
Timestamps:
00:00 Introducing Brian Carter and Jacob Kinsel
02:35 What do board members need to know about the audit process?
05:00 When should an organization have a full audit?
07:20 Common misconceptions about an audit
09:00 The board’s role in the audit
10:20 Should the board engage the auditor?
11:20 What is a 990?
14:12 7 areas of the 990 the board should be aware of
20:45 What is the best practice for approving the 990?
22:50 What controls should be in place to prevent fraud?
27:20 Red flags board members should be aware of
29:20 Final advice for nonprofit boards
31:30 Recapping with Read
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Visit us at: www.thecorleycompany.com/podcast

5 Observations of a High Performing Board

Recently, I had the pleasure of facilitating a board retreat with a high performing, aligned, and productive board. In this episode, I discuss the 5 observations I have from working with this nonprofit board.
Timestamps:
00:00 5 observations of a high performing board
01:20 Aligned on the mission
01:40 Understands its role
02:15 They were educated and prepared
03:00 Productive discussion
03:40 They had fun
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Visit us at: www.thecorleycompany.com/podcast

The Ultimate Guide for New Nonprofit CEOs with Brian Quail

This week we speak with the author of "The Ultimate Guide for New Nonprofit CEOs", Brian Quail. Brian worked in nonprofits for 40 years, was a CEO for 25, and raised over $1 billion for his organizations across his career. In this episode, we focus on the 5 frameworks from Brian's book: “90 Days," “Your Team," “The Financials," “Donor Relationships," and “The Who." These 5 frameworks provide a new nonprofit CEO with the key to being a successful leader. Throughout the episode, Brian shares how he used these 5 frameworks to lead 3 different organizations over the course of his career.
Contact Brian:
brianquail.com
bq@brianquail.com
Timestamps:
00:00 Introducing Brian Quail
04:00 Inspiration for writing the book
07:55 The first of the 5 frameworks: 90 Days
13:00 Analyzing your team, framework 2
17:45 Framework 3: The Financials
22:10 Framework 4: Donor Relationships
26:40 Framework 5: The Who
33:45 Final words
35:40 Recapping with Read
Listen to the podcast on any of the following platforms:
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Visit us at: www.thecorleycompany.com/podcast

It’s Time to Revisit Mission and Values

July 1st brings in a new fiscal year for many nonprofit organizations. As we approach this time of transition, we discuss two ways to get your new board aligned. In your first board meeting with your new board, discuss the mission. What does the mission mean to each person? It is also important to discuss what is NOT the mission. Mission creep can be a dangerous factor to nonprofit organizations. This time of the year is also a good time to identify a set of values in which each individual can adhere to. If everyone is aligned, your impact will be increased.
Timestamps
00:00 New fiscal year coming on July 1
01:40 Revisit the mission
02:35 What is not the mission?
03:45 Identify the values of the organization
Listen to the podcast on any of the following platforms:
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Visit us at: www.thecorleycompany.com/podcast

Succession Planning is Your Responsibility with Kerry Diaz

This week we speak with Kerry Diaz, a former practicing attorney, turned nonprofit CEO, board member, entrepreneur, and now nonprofit consultant. Together, we discuss Kerry's transition from board member to CEO, succession planning best practices, and traits that make an effective nonprofit CEO and board member.
Contact Kerry:
kerryadiaz@gmail.com
(561)-307-0844
Timestamps:
00:00 Introducing Kerry Diaz and her winding road to nonprofit consultancy
05:30 How did having a legal background help you in your career?
06:50 Did serving on the board help you become a better CEO?
09:00 Are you a better consultant because you have been a board member and CEO?
10:00 What are some succession planning best practices?
12:34 Who do you let know about succession planning?
15:25 Board succession planning best practices
19:30 What makes an effective board member?
20:45 What makes an effective CEO?
21:45 Board members coming from entrepreneurship
24:45 How often should a CEO/ED communicate with board members?
26:40 Board Chair-CEO relationships
27:40 Should you have personal/social friendships with board members?
30:30 Advice for nonprofit board members?
32:15 Reach out to Kerry
33:00 Recapping with Read
 
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Visit us at: www.thecorleycompany.com/podcast

What to do When a Board Member is not Pulling Their Weight

There might come a time when a board member is not showing up for meetings, reviewing meeting materials, or being a good steward of the organization. It is the role of the board chair to step in and have a conversation with that board member. Remember, board members are volunteers, so a delicate balance has to be reached. Oftentimes, people feel obligated to fulfill their commitment as board members, but life gets in the way. People get busy. The board chair can offer a way for the board member to gracefully exit the board or step into a committee role.
Timestamps:
00:00 What to do when a board member is not pulling their weight
01:35 It is the board chair’s responsibility to correct board member behavior
02:50 Do not be accusatory, this is a volunteer position
03:20 Sharing a personal experience
04:20 Do not let the behavior go unquestioned
05:45 What to do when a board member does not change
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Visit us at: www.thecorleycompany.com/podcast

A board perspective from a nonprofit, for-profit, and government leader, the Honorable Alex Sink

This week, we speak with the Honorable Adelaide “Alex” Sink. Alex served as Florida’s elected Chief Financial Officer from 2007 to 2011. Prior to elected office, Alex had a 26-year career at Bank of America where she served on several nonprofit boards. 
We discuss how serving on nonprofit boards helped her banking and political career, evaluating and eliminating conflicts of interest, and the power of relationships made through board service. To end the episode, Alex provides advice for how young professional women can begin giving back to their communities.
Timestamps:
00:00 Introducing the Honorable Adelaide “Alex” Sink
03:55 Did the desire to give back start from a young age?
05:30 Sitting on boards during her banking career
07:40 What did you learn from serving on nonprofit boards that helped you in your career?
09:25 The importance of being engaged in the mission
12:25 If you are joining a board, you need to devote the time
16:45 Serving on boards as the CFO of Florida, evaluating conflicts of interest
19:55 Serving as the chair of Florida Healthy Kids
21:40 Difference between serving on a for-profit and nonprofit board
23:20 Advice to nonprofit board members - ask questions, speak up
26:20 What challenges should a nonprofit board member be aware of
29:00 Making connections through board service
30:20 Advice to young women about serving on a nonprofit board
33:45 Pick one thing to get involved in the community
34:40 Encouragement to be on a nonprofit board
Listen to the podcast on any of the following platforms:
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Visit us at: www.thecorleycompany.com/podcast

10 Tips for Mitigating Fraud

A nonprofit's #1 currency is trust.  Any fraudulent activity by a nonprofit agency negates this trust. The Board has a role and responsibility to minimize the risk of fraud. This week, we discuss 10 tips for nonprofit boards to help mitigate fraud in their organizations.
Timestamps:
00:00 How nonprofit boards can mitigate fraud risk
01:40 #1-3 - Establish a Strong Ethical Culture, Implement Clear Policies and Procedures, Segregation of Duties
03:05 #4-6 - Regular Financial Oversight and Reporting, Board Oversight and Involvement, Independent Audit Committee
04:20 #7-10 - Whistleblower Policies, Regular Training and Education, Monitoring and Evaluation, Lead by Example
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:
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Visit us at: www.thecorleycompany.com/podcast

Why You Should “Put Results First” by Creator and author Hal Williams

This week, we speak with Hal Williams. Hal is the creator of Results 1st and the author of the new book “Put Results First”.  Results 1st helps individuals and groups focus on results in each of their functions, activities, processes, and structures.
Together, Michael and Hal dive into the 4 parts of the book, including discussions on defining success before designing a program, how to improve nonprofit accomplishment, and being “achievement based.” This book will help any nonprofit organization greatly improve their program results. It all starts with asking “so what?”
Results 1st website
Buy the book
Timestamps:
00:00 Introducing Hal Williams, Creator of Results 1st
02:50 Creating Results 1st
05:25 What does it mean to be “achievement based?”
07:25 Set targets and define success BEFORE starting a program
08:52 Tracking milestones for a program
11:40 “Hold the result constant, let the activity vary”
12:20 You need to ask “So what?”
18:10 Communicate by accomplishments
21:40 Part 2: How do you greatly improve nonprofit accomplishment?
25:30 Part 3: Practices that pull us away from our results
28:20 Board members are stewards of results
29:40 Part 4: Partnerships, Coalitions, Collaborations and DEI
34:00 How to get the book
35:35 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:
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Visit us at: www.thecorleycompany.com/podcast

For-Profit vs Nonprofit: More than a Tax Status

In recent interactions with nonprofit board members, there has been a difference in familiarity regarding the operational nuances between for-profit and nonprofit organizations. Given that many board members do not interact with the organization on a daily basis, there may be unintentional assumptions about how nonprofits operate. In this episode, we dive into the fundamental similarities and differences between nonprofit and for-profit organizations, with the goal of enhancing mutual understanding among all participants.
Timestamps:
00:00 Introducing the differences between non-profit and for-profit organizations
01:20 Similarities
04:10 Differences
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
Spotify Podcasts
Amazon
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Visit us at: www.thecorleycompany.com/podcast