MemberFebruary 9, 2024 at 7:44 am
The first thing that you need to do is have a job description for the position. For example do you want your treasurer to actually maintain the financial records or do you have staff to do this job? Is the Treasurer a doer or an over-seer?
I would try to recruit the CFO from a medium to large size nonprofit with a similar mission to be your Treasurer. The CFO will have the accounting and finance skills and I find that CFO’s generally aren’t recruited for outside activities and are delighted to serve. Just check the 990 of the organization of the CFO to make sure that their nonprofit is financially sound itself.
Most statewide CPA associations have a board matching program so contact them.
Just because a bank deals with money, it doesn’t mean bankers make good treasurers. As a small nonprofit you will be recruiting from local branches. These folks are primarily marketing folks not finance folks. The same is true of investment advisors. If you are are located in a city with a bank headquarters, you may be able to recruit from their financial department.
I do financial and administrative consulting and have about 20 clients – two of my best treasurers are retired goverment employees. Prior to retirement, both of them had a direct role in funding the organizations for which they are now treasurers. They are mission focused and have an understanding of the organization. My worse treasurers are the bankers.