Alice Korngold, contributing writer for Fast Company Magazine and President and CEO of Korngold Consulting, asserts in her most recent commentary that the current economic instability isn’t only affecting communities, both urban and suburban, but now is making destitute of Non-Profit Corporations as they scramble for needed resources to help keep the unemployed, families, and the retired afloat.
A new report
by the National Council of Nonprofits
provides more data about the nonprofit financial crisis, showing sharp declines from all sources, including government, corporations, foundations, and individuals, and fees for services faltering as well. Worst of all, these funding challenges occur just when communities are in greater need of nonprofit services, as people are losing jobs, homes, healthcare benefits, and credit, and various public services, including education, are being cut.Nonprofit boards have the authority, power, and legal and fiduciary responsibility to create solutions, in partnership with the nonprofit CEOs that they hire. How can nonprofit boards improve themselves
to face their difficult but essential challenges of serving our communities? Of course, in order to build and achieve a successful future, a board needs to build
itself with the right people–a topic I have addressed previously.
Some of the best board members I have placed or worked with have been key revenue problem-solvers. For example, the global pricing strategist for a major consulting firm pulled a nonprofit (the local chapter of a national blood services organization) out of the red by helping them revise their pricing strategy, thereby shifting the organization into financial health.
Here are additional ways that board members play vital roles….
This commentary piece was written by Alice Korngold
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