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Financial Management: All Board Members Should be Involved


Increasing financial literacy for board members provides a path to better decision-making, more effective planning, and enhanced oversight at an organization.

I have suspected for some time that boards need financial literacy training. Why? Because I would see boards relying on one or two board members with financial expertise to do most of the heavy lifting regarding their financial management.

To test my theory, I surveyed all affiliated board chairs of our overnight camps and asked them to consult with their board members and let us know if they wanted this training. The answer was conclusive – yes!  Based on the survey results, which included specific areas of interest, we designed a three-part training series for Board Members and Camp Directors/EDs. The trainings were led by FMA and covered camp-specific financial management topics.

Given that the goal of the training was to help increase financial literacy across the entire board, the training was designed at the 101 level, per the survey results. If you have much more experience in financial management, this training may not necessarily be for you. However, given the disparity in skill sets on most boards, you may find that sharing this training tool with your board members who need a refresher, potentially useful. The recorded three-part training reviews best practices in simple terms, using real camp situations and is easily transferable.

Check out the three webinars on our website, forward them to your teammates, and let us know if you have any feedback or want any additional training in this area.

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Written by Tara Acker. Tara is a Mentor with JCamp 180. Her focus areas at JCamp 180 include Jewish Camp Branding, Day Camps, financial literacy for Jewish Camps and organizational development. 
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Who we are: JCamp 180 is a program of the Harold Grinspoon Foundation (HGF). Our goal is to significantly enhance the long-term effectiveness of nonprofit Jewish camps in North America. To meet this goal, we provide affiliated Jewish camps with consulting services, annual conferences, shared resources, professional development, and matching grant opportunities. Find more at 
www.jcamp180.org
 
Author

Tara Acker
Mentor
JCamp 180

[email protected]