Forum Replies Created

Page 2 of 3
1 2 3

  • Kate.Barr

    Member
    September 25, 2022 at 8:56 pm in reply to: Private: Nonprofit dissolution and use of finances

    Our organization has had various roles with several organizations through the process of dissolution. The messiest ones don’t have the resources to satisfy all of their obligations, so that’s a whole different topic. Fortunately that’s not the situation here. I’d say that the key things to watch for/prepare for is to be sure there’s been diligent work to identify any and all financial or legal obligations, to work with employee benefit plans and insurance companies to make sure than any tails or ongoing liabilities or costs are accounted and reserved for, and to be sure there are board members who are aware of and prepared for the reality that they will have some responsibilities for a period of time after the dissolution (it could be a few months and it could be a full year.)

  • Kate.Barr

    Member
    September 25, 2022 at 8:51 pm in reply to: Private: Managing and using cash reserves

    Approving a deficit budget is a commitment to using reserves intentionally. It’s great if you don’t have to, but the practice of making them available seems like a statement.

  • Kate.Barr

    Member
    December 14, 2022 at 10:00 am in reply to: Reserves are great to have – how to invest and manage them

    Thanks, Jennifer, this is a great example of an option that doesn’t require a while investment policy review and risk management. Banks offer sweep accounts and a few other cash investing options that aren’t top of mind for most of us. It’s a good reminder to probe and ask what they have available, and then to check around for other options. We had a sweep account as well and then when rates dropped so much in 2021 it wasn’t really worth it. As rates have gone back up this year it was worth reinstating the service.

  • Kate.Barr

    Member
    December 14, 2022 at 9:56 am in reply to: Reserves are great to have – how to invest and manage them

    I agree, Dana, this is an important factor for many nonprofits. I’ve seen it addressed at two points in the process – the selection of an advisor or money manager and then at the investment policy level. I read an RFP for money managers last year that included some good language and criteria about this. I’ll track that down and ask permission to share it.

  • Kate.Barr

    Member
    December 13, 2022 at 1:24 pm in reply to: Reserves are great to have – how to invest and manage them

    That seems like a good approach, Dick. Did you have a process for choosing the community foundation to manage the funds, or has that been a long established relationship?

Page 2 of 3
1 2 3

Report

Harassment or bullying behavior
Contains mature or sensitive content
Contains misleading or false information
Contains abusive or derogatory content
Contains spam, fake content or potential malware

Block Member?

Please confirm you want to block this member.

You will no longer be able to:

  • See blocked member's posts
  • Mention this member in posts
  • Invite this member to groups
  • Message this member
  • Add this member as a connection

Please note: This action will also remove this member from your connections and send a report to the site admin. Please allow a few minutes for this process to complete.

Report

You have already reported this .

Join a space designed to foster support, inclusivity, and respect for every voice.

Ask questions, share experiences, and connect with peers and experts who value your insights. Your contribution is invaluable - forum members bring a wealth of knowledge and experience, crucial for mutual growth and learning. We cherish your expertise and would love to have you enrich our forum! Let's build together, learn together, and support one another.
Visit the Forum!