TITLE : Best Practices for Managing Your Organization`s Finances
CITY : Chicago , IL
DATE : Thursday, April 01, 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:

Soo Ji Min
Executive Director
IL Caucus for Adolescent Health

SooJi has been a nonprofit executive for 6 years. In her current position, she manages the day-to-day operations of an $800,000 statewide policy and advocacy organization focused on adolescent sexual health and comprehensive support for young parents. She leads a staff of 10 with a median age of 26. She is responsible for strengthening the agency's fiscal management to enhance accountability, monitoring, and transparency. Previously, as Executive Director of Korean American Community Services, SooJi was responsible for the day-to-day management of a $2 million comprehensive direct service agency and fiscal agent for two off-site senior housing centers with an annual budget of $1.7 million. She led a diverse staff of more than 40 employees. She implemented an organizational restructuring, strengthened financial stability, and enhanced grant compliance. SooJi was recently appointed a Commissioner of the Illinois Human Services Committee. She currently serves as Treasurer of Chicago Women in Philanthropy. She earned master's degrees from Northwestern University and the University of Chicago. She is a 2007 Illinois Women’s Institute for Leadership Delegate and a 2006 Leadership Greater Chicago Fellow. She is a 2010 Chicago Foundation for Women Impact Award Honoree and a 2010 Chicago Community Trust Fellow.

Dhiren Shah
Principal
Dhiren Shah and Associates Inc

Dhiren has been involved in financial management for 25 years. In his current position, he is a financial management consultant. Dhiren has been a Consultant, Board Member, and turnaround management expert. Previously, as CFO at Francis W Parker School, Dhiren suggested and closed on a 23.7 million tax exempt bond deal. He was responsible for Human Resources, Facilities Management, overseer of construction, and other operational issues of the school. Before that, he worked as CFO at Bethel New Life. Dhiren currently serves as interim treasurer for Housing Opportunities and Maintenance for the Elderly. He earned Bachelors in Business from University of Bombay, and a Masters in Banking from Indian Institute of Bankers. He is a member of IL CPA Society.

Lea Ann Skogsberg
Founder and Managing Associate
Dollars and Sense

Lea Ann has been involved in fundraising for 25 years. In her current position, she is responsible for identifying opportunities to work with small and medium-sized non-profits and their middle-income donors. She advises clients on the budget process by recommending a revenue mix, staffing to achieve the desired results and the expense items required to facilitate success in generating the selected revenue streams. Previously, as Executive Director, Waubonsee Community College Foundation at Waubonsee Community College, Lea Ann was responsible for coordinating the projects of the WCC Foundation including the budget process. Before that, she worked as Director of Development at Community Renewal Society where she was responsible for raising funds from individuals, corporations, foundations, churches and community groups to implement the mission of CRS. Lea Ann currently serves as Chairperson, Missions Committee for Yorkville Congregational Church, UCC. She earned Bachelor of Arts in Business from Fontbonne College and a Master of Science in Journalism from Southern Illinois University-Carbondale. She is a member of Kaneland WINS. She has worked as the chief grant writer on teams that have raised more than $45 million for nonprofit organizations across the sector: arts, education, environment, healthcare and social services.

 

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