For Purpose Live

Rebecca Britt
For Purpose Live

Helping founders Get Clear, Get Focused and make BIG IMPACT through our unique framework. Breaking limiting beliefs of the nonprofit industry and lifting up a FOR PURPOSE mindset.

  1. 1 พ.ค.

    When Should an Executive Director Get Board Approval?

    In this episode of For Purpose Live, non-profit consultant Rebecca Britt discusses when executive directors need board approval and when they don't. Understanding the boundaries between operational decisions and board oversight is crucial for non-profit leadership. Rebecca shares insights based on her experience and provides valuable tips for navigating this aspect of non-profit management. Timestamps: 00:00 Introduction 00:16 The Different Levels of Board Involvement 01:16 Overview of the Impact Roadmap 01:59 Importance of Bylaws in Defining Approval Processes 02:56 Realization of the Value of Bylaws 03:44 Key Instances Requiring Board Approval 04:55 Empowerment of Executive Directors 06:29 Avoiding Bottlenecks in Decision-Making 07:51 Setting Budget Limits and Approvals 09:23 Criteria for Board Approval 11:12 Importance of Proper Onboarding for Board Members 13:04 Building Trust and Clear Communication 14:20 Foster Trust Between Board and Executive Director 15:15 Evolving Relationship Between Board and Staff 15:53 Clarity in Bylaws and Approval Processes 16:11 Like, Share, and Check Out the Impact Roadmap Rebecca offers practical advice on fostering a healthy relationship between executive directors and boards, ensuring alignment with the organization's mission and goals. If you're a non-profit leader navigating board dynamics, this episode is a must-watch! Like, share, and subscribe for more valuable insights from For Purpose Live.

    16 นาที
  2. 27 มี.ค.

    How to Pay Yourself from Your Nonprofit for Beginners

    Many individuals embark on the journey of starting a nonprofit with noble intentions, often either envisioning it as their full-time vocation or resigning themselves to the idea of not receiving any compensation. However, it's crucial to recognize the importance of paying yourself as the Executive Director of a nonprofit. Not only does it safeguard the sustainability of the organization's mission and services, but it also ensures continuity in the event of unforeseen circumstances. In this insightful podcast episode, we delve into the practical steps you can take to compensate yourself from your nonprofit, even when revenue streams are modest. Join us as we break down the essential strategies for navigating this critical aspect of nonprofit management: Point 1 - Open two bank accounts: Establishing separate accounts for personal and organizational finances is the first step towards maintaining clarity and transparency in your financial transactions. Point 2 - Set your Target Allocation Percentages: Determine the portion of your nonprofit's revenue that will be allocated towards your salary, keeping in mind the organization's financial health and sustainability. Point 3 - Move Money Monthly: Implement a systematic approach to transfer funds from your nonprofit's account to your personal account on a regular basis, ensuring consistency in your compensation. Point 4 - Save up 6 months before taking: Prioritize building a financial cushion equivalent to at least six months' worth of expenses before initiating your salary withdrawals, offering stability and security in uncertain times. Point 5 - Keep padding to give yourself a raise: Continuously evaluate and adjust your salary allocation based on the organization's growth and financial performance, allowing room for incremental increases over time. Whether you're just starting out or looking to refine your nonprofit's financial management practices, this episode provides actionable insights to help you navigate the complexities of paying yourself while safeguarding the mission and impact of your organization. Tune in to learn how to establish a sustainable compensation structure that supports both your personal needs and the long-term success of your nonprofit endeavors. Get your free one page funding template at www.forpurposelive.com/page

    19 นาที

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Helping founders Get Clear, Get Focused and make BIG IMPACT through our unique framework. Breaking limiting beliefs of the nonprofit industry and lifting up a FOR PURPOSE mindset.

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