TITLE : Best Practices for Managing Your Organization`s Finances
CITY : Columbus , OH
DATE : Tuesday, December 07, 2010
TIME : 8:30 AM - 12:00 PM
PRICE : $ 110.00
Best Practices for Managing Your Organization`s Finances
 

To run a nonprofit successfully, you need to raise enough money to accomplish its mission. However, just as important is your ability to steward the money raised so that you can account for every dollar raised. An organization is accountable to its board, staff and the general public to know how much revenue it is receiving and how that money is being spent. It also needs to ensure that grants and all other income are spent in the manner intended. 
 
In this session, we will cover best practices for the following:
- Creating and following an annual budget
- A system for tracking revenues by fund categories and by restricted versus unrestricted funds
-The importance of planning ahead for difficult financial times
- Appropriate internal controls to prevent improper uses of funding and to ensure that costs are controlled
- What to expect from an audit or financial review
- How to develop a reserve fund and financial policies, including an investment policy
 
You will walk away with best practices to safeguard your organization`s assets and account for its financial resources.
 
This session is intended for Board Members, Executives, Senior Staff and anyone who works with the organization`s Finances.
Speakers for this session:

Dewitt Harrell
Chief Financial Officer / Fiscal Officer
Columbus Metropolitan Library (CML)

Dewitt joined the Columbus Metropolitan Library in 2006, after spending more than 20 years providing accounting, finance and technology leadership in many industries. At CML he is responsible for Finance, Budgeting, Accounting, Payroll, Purchasing, Human Resources, Project Management/Quality and is the Fiscal Officer for the Trustees. Before joining CML, Deweitt served as a Financial Manager for Deloitte Consulting. In that role, he was responsible for providing expertise to clients in financial process re-engineering, internal controls, and ERP information technology systems. Prior to Deloitte, he held financial management positions with Consolidated Natural Gas in Pittsburgh and East Ohio Gas in Cleveland. He holds a bachelor’s degree in accounting from Florida A&M University and an Executive MBA from Case Western Reserve University. He is a past member of the board of the Institute of Management Accountants, accounting advisory board at Cleveland State and the Kent State University professional development conference. He is currently serving on the boards at Central Ohio Workforce Investment Corporation, and City of Gahanna Finance Advisory Board. He was recently named CFO of the Year runner-up by BusinessFirst Magazine.

Melissa Magers
Executive Director
Community Shares of Mid Ohio

Melissa was a founder in 1992 and has been the Executive Director of Community Shares of Mid Ohio for sixteen years, guiding the organization from sixteen to sixty members and fundraising for members over $2.5 million. As Executive Director, Melissa has responsibility for the organizations finances, including mentoring and guidance in sound business practices for member agencies, financial planning and analysis, preparation and oversight of the annual budget, oversight of finances and bookkeeping, preparation and distribution of Financial Reports to the Board of Directors, oversight of 990 and audit completion, and review of and recommendations to Financial Policies. She works closely with the Finance and Governing Committees as well as the Board of Directors. Melissa also provides technical assistance to Community Shares’ member nonprofits in ensuring their own sound financial practices, following and using principles of GAAP (generally accepted accounting principles), assistance with 990 preparation, and advice and recommendations of financial practices. She holds accounting and other workshops for member agencies, particularly in cash and accrual based accounting. Melissa has a Master’s in Business Administration from Xavier University and a Bachelor of Arts in Psychology from The Ohio State University.

Greta Russell
Controller
The Ohio State University

Greta has been involved in accounting and finance policy for 34 years. Currently, she is responsible for developing, teaching and communicating fiscal policies, as well as maintaining financial accounting and reporting systems, and issuing financial reports. Greta directs several divisions including Accounting, and Financial Training and Documentation. Previously, as Comptroller at The Ohio State Treasurer's Office, Greta was responsible for managing the Accounting, Reconciliation, Purchasing and Audit Departments. Greta currently serves as a member for Columbus-Franklin County Finance Authority, Columbus City Schools' Audit and Accountability Committee and others. She earned Bachelor in accounting, graduating Magna Cum Laude from Ohio Dominican College and a Master of Taxation from Capital University Law Center. She is a member of the Columbus Chapter of the Links, Corporate Sisters, Circle-Lets, Inc and Carrousels, Inc. In 2006, she was appointed to the Accountancy Board of Ohio and in 2009 she was appointed to the City of Columbus Accountability Committee. In 2009, she was named one of "Ohio's Most Influential CPAs." She has received numerous other awards including the DCSC's Martin Luther King Jr. Award and The Blue Chip Profile Business Award to name a few.

Louise Young
CFO
Leo Yassenoff Jewish Center

Louise has been involved in nonprofit finance for 10 years. In her current position, she is responsible for developing, monitoring and maintaining the organization's budget, preparation and implementation of the annual audit, staff support to the Budget and Finance Committee, Audit Committee and Investment Committee, and financial analysis of agency programs, as well as agency financial planning and forecasting. She works closely with the JCC's staff and lay leadership, helping them to understand how the organization's finances relate to its programming and the success of its mission. Previously, as Senior Manager at Plante & Moran, LLP, Louise was responsible for tax planning and consultation for businesses and nonprofit entities. She had an 18-year career in public accounting, specializing in tax planning and preparation for privately owned businesses, and estate and tax planning for individuals. Louise currently serves as a volunteer, as needed, for Columbus School for Girls and St. Andrews Episcopal Church. She earned Bachelors in Business Administration from University of Tennessee and a Masters in Accounting from University of Tennessee. She is a member of Ohio Society of CPA's, the Jewish Community Centers of North America, and St. Andrews Episcopal Church.

 

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Thursday November 11, 2010

Making the most of your volunteers

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Tuesday December 07, 2010

Best Practices for Managing Your Organization`s Finances

8:30 AM - 12:00 PM

$ 110.00

 All levels


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