TITLE : Best Practices for Managing Your Organization`s Finances
CITY : Washington , DC
DATE : Wednesday, April 28, 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:

Abigail Gorman
Chief Operating Officer
American Dental Education Association (ADEA)

Abigail has been involved in executive management in both the private and nonprofit sectors for more than 20 years. In her current role, she serves as CFO and leads the ADEA management team responsible for finance, administration, information technology, membership, communications, marketing, meetings, professional development, knowledge management and application services. During her tenure, ADEA’s membership has grown from 2,000 individual members to more than 18,000, with a 90% retention rate. Institutional membership has grown more than 25%. Previously, in a similar role at a strategy-consulting firm, Abigail was responsible for expanding the firm’s administrative and financial infrastructure to meet the needs of new and maturing lines of business. She earned a Masters in Business Administration from the University of Virginia and a B.A. in History from Smith College.

Joseph Janela
Chief Operating Officer
Nat`l Association of School Psychologists

Joseph has been involved in finance for 25 years. In his current position, he is responsible for all financial activities for the National Association of School Psychologists. This includes the annual budget, monthly financial reporting to staff and the Board of Directors, internal controls, coordination of the year-end audit, investment portfolio, 401K plan, review of contracts, quarterly budget presentations to the Board and Delegate Assembly, insurance, office lease, performance budgeting, and financial analysis for pricing products and services. Previously, as CFO at The Endocrine Society, Joseph was responsible for similar activities. Before that, he was a partner at Stoy, Malone & Co. CPA's where he was responsible for conducting audits and preparing tax returns for clients in various industries, including not-for-profit, real estate, printing, retail, and service organizations. He earned BA in Accounting from Catholic University of America and is currently a member of Maryland Association of CPA's.

Martin Lattman
President
ATS Inc.

Martin has been involved in corporate management, consulting, and adult education for 30 years. In his current position, he is responsible for strategic planning, operational performance audits, and strategic agility/change management. Previously, as President of RAD Data Communications, Martin ran a $40M technology company. He was responsible for the company's P&L, managing all aspects of its financial performance. Before that, he worked as VP of Channel Operations at Visual Networks, where he built and ran a global $14M indirect channel operation. In that role, he managed this division's budget and revenue delivery. Martin currently serves on the Board of Directors for U.S. Lacrosse. He earned his MBA in Finance from Cornell University and a BA in Philosophy and Economics from The College of Wooster. Martin conducts webinars and develops tools for use by management professionals in a variety of sectors. He also teaches courses at the Johns Hopkins University Graduate School of Business and the American Management Association in strategic planning, financial planning and analysis, and other areas.

Salimah Salaam Muhammad
Finance/Human Resource Director
The Praxis Project

Salimah has over 25 years of experience in financial management. In her current position, her responsibilities include budget development, fiscal policy development, financial reporting of quarterly and annual financial statements, audits, fiscal agent to grassroots organizations, development investments, and assets management planning. In her previous position as a Real Estate Settlement Officer, she coordinated, audited, and approved the finalization of documentation for financing business commercial properties. She established bank and investment accounts, managed office procurement, and did accounting recordation for employee leave. She is on the Board of Directors for the PinPoint Theatre Association, and the Greater Baden-Aquasco Citizen’s Association. She holds a Masters in Business Finance from the University of the District of Columbia, and a B.A. in Business Finance & Banking from Howard University.

 

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