Learn More in the Library’s Blogs Related to This Topic
In addition to the articles on this current page, also see
the following blogs have posts related to this topic. Scan
down the blog’s page to see various posts. Also, see the section
“Recent Blog Posts” in the sidebar of the blog or click
on “next” near the bottom of a post in the blog. The
the blog also links to numerous free related resources.
To round out your knowledge of this Library topic, you may
want to review some related topics, available from the link below.
Each of the related topics includes free, online resources.
Also, scan the Recommended Books listed below. They have been
selected for their relevance and highly practical nature.
Vast majority of content
in this topic applies to for-profits and nonprofits. This book also covers this topic.
Overview of a Board Finance Committee
The Board Finance Committee is a usually standing committee chartered to guide,
oversee and support the financial and tax practices of the organization, including
approval and conformance regarding up-to-date fiscal policies and procedures;
development of the annual budget; and ensuring accurate tracking and analysis
of financial highlights, trends and issues. It also ensures conformance to relevant
financial and tax rules and regulations, as well as standards of accounting.
Typically annual recurring goals of this committee might be to:
Ensure conformance to relevant rules and regulations affecting financial
management and taxes, e.g., IRS and Sarbanes Oxley.
Ensure accuracy and efficiency of financial management by reviewing and
updating the fiscal policies and procedures, and training all Board members
and relevant leaders about the policies and procedures.
Train other Board members and leaders in the organization how to analyze
financial data and make appropriate decisions.
Ensure organizational sustainability by developing appropriate budgets
(operating, product/program-based, etc.) that are approved by the Board.
Ensure ongoing effectiveness and efficiency in management of financial
resources with timely generation and analysis of relevant financial information.
Ensure effectiveness and focus of revenue development by establishing revenue
targets for each product/program where appropriate.
Ensure sufficient protection of assets, including through risk assessment
and responding strategies, e.g., insurance protection and sound cash management.
The Committee should have a work plan that itemizes these, or very similar,
annual goals and also associated objectives with each goal such that when the
objectives are achieved in total, they also will have achieved its respective
goal. When committees do not have work plans, they often flounder in finding
valuable and focused means to provide value to the Board. Unfortunately, in
these situations, many Board mistakenly conclude that “committees do not
work”, or they reduce the number of committees, thinking that inactive
committees were because there were too many — rather than realizing that committees
can be extremely useful when focused on the most important annual recurring
goals.
Learn More in the Library’s Blogs Related to This Topic
In addition to the articles on this current page, also see
the following blogs have posts related to this topic. Scan
down the blog’s page to see various posts. Also, see the section
“Recent Blog Posts” in the sidebar of the blog or click
on “next” near the bottom of a post in the blog. The
the blog also links to numerous free related resources.
To round out your knowledge of this Library topic, you may
want to review some related topics, available from the link below.
Each of the related topics includes free, online resources.
Also, scan the Recommended Books listed below. They have been
selected for their relevance and highly practical nature.
Learn More in the Library’s Blogs Related to This Topic
In addition to the articles on this current page, also see
the following blogs that have posts related to this topic. Scan
down the blog’s page to see various posts. Also see the section
“Recent Blog Posts” in the sidebar of the blog or click
on “next” near the bottom of a post in the blog. The
blog also links to numerous free related resources.
To round out your knowledge of this Library topic, you may
want to review some related topics, available from the link below.
Each of the related topics includes free, online resources.
Also, scan the Recommended Books listed below. They have been
selected for their relevance and highly practical nature.
Learn More in the Library’s Blogs Related to This Topic
In addition to the articles on this current page, also see
the following blogs that have posts related to this topic. Scan
down the blog’s page to see various posts. Also see the section
“Recent Blog Posts” in the sidebar of the blog or click
on “next” near the bottom of a post in the blog. The
blog also links to numerous free related resources.
To round out your knowledge of this Library topic, you may
want to review some related topics, available from the link below.
Each of the related topics includes free, online resources.
Also, scan the Recommended Books listed below. They have been
selected for their relevance and highly practical nature.
Learn More in the Library’s Blogs Related to This Topic
In addition to the articles on this current page, also see the following blogs that have posts related to this topic. Scan down the blog’s page to see various posts. Also see the section “Recent Blog Posts” in the sidebar of the blog or click on “next” near the bottom of a post in the blog. The blog also links to numerous free related resources.
To round out your knowledge of this Library topic, you may want to review some related topics, available from the link below. Each of the related topics includes free, online resources.
Also, scan the Recommended Books listed below. They have been selected for their relevance and highly practical nature.
Learn More in the Library’s Blogs Related to This Topic
In addition to the articles on this current page, also see
the following blogs that have posts related to this topic. Scan
down the blog’s page to see various posts. Also see the section
“Recent Blog Posts” in the sidebar of the blog or click
on “next” near the bottom of a post in the blog. The
blog also links to numerous free related resources.
To round out your knowledge of this Library topic, you may
want to review some related topics, available from the link below.
Each of the related topics includes free, online resources.
Also, scan the Recommended Books listed below. They have been
selected for their relevance and highly practical nature.
Learn More in the Library’s Blogs Related to This Topic
In addition to the articles on this current page, also see
the following blogs that have posts related to this topic. Scan
down the blog’s page to see various posts. Also see the section
“Recent Blog Posts” in the sidebar of the blog or click
on “next” near the bottom of a post in the blog. The
blog also links to numerous free related resources.
To round out your knowledge of this Library topic, you may
want to review some related topics, available from the link below.
Each of the related topics includes free, online resources.
Also, scan the Recommended Books listed below. They have been
selected for their relevance and highly practical nature.
Learn More in the Library’s Blogs Related to This Topic
In addition to the articles on this current page, also see the following blogs that have posts related to this topic. Scan down the blog’s page to see various posts. Also see the section “Recent Blog Posts” in the sidebar of the blog or click on “next” near the bottom of a post in the blog. The blog also links to numerous free related resources.
Basically, an interim CEO is an executive that is hired by the corporation’s Board of Directors (for-profit or nonprofit) as a temporary person to fill that role until a permanent replacement is hired.
One reason for hiring an interim CEO is because that person suddenly left that role due to serious illness or death. Concurrently, the organization did not have sufficient succession planning to deal with that crisis. Another reason is that the CEO had to take a leave of absence, which had a high likelihood that the person would be returning in a matter of months, for example, less than a year. Yet another reason is that the Board has decided that the organization needs a different set of skills in the CEO role. For example, the organization might need to undergo a major change and needs a CEO will strong skills in guiding successful change, and it is clear that the current CEO does not have — or cannot soon develop — those skills.
It should be noted that the vast majority of information about interim CEOs is applicable to both for-profit and nonprofit corporations. Major differences between organizations depend on the current life stage of the organization, its culture and its current strategic priorities — much more than differences between their missions. For example, a small nonprofit is much more like a small for-profit than a large nonprofit. Key differences between the role of CEO in a for-profit compared to nonprofit might be more in regard to whether the for-profit is a publicly listed business and, thus, has strong priorities about satisfying shareholders.
The following articles give basic definitions of the role of an interim CEO.
The hiring of an interim CEO has most of the considerations of hiring a permanent CEO — and more. The candidate should be readily available to hire and ideally have somewhat similar experience in a somewhat similar industry and organization. He or she also needs to successfully work in a temporary situation, which means quickly establishing and maintaining successful working relationships with key stakeholders, for example, Board members, employees and significant representatives among external constituents. The person also needs strong skills in transition management, including to lessen any impact of the previous CEO’s leaving and a new permanent CEO replacing the interim. These skills need to be successfully utilized with others who know that the person in the interim role will not be around for the long term.
Whether you are hiring an interim or considering being one, the following articles will give you more perspective on the role, and how the person in it will likely work with others in and around the organization.
To round out your knowledge of this Library topic, you may want to review some related topics, available from the link below. Each of the related topics includes free, online resources.
Also, scan the Recommended Books listed below. They have been selected for their relevance and highly practical nature.
Learn More in the Library’s Blogs Related to This Topic
In addition to the articles on this current page, also see
the following blogs that have posts related to this topic. Scan
down the blog’s page to see various posts. Also see the section
“Recent Blog Posts” in the sidebar of the blog or click
on “next” near the bottom of a post in the blog. The
blog also links to numerous free related resources.
To round out your knowledge of this Library topic, you may
want to review some related topics, available from the link below.
Each of the related topics includes free, online resources.
Also, scan the Recommended Books listed below. They have been
selected for their relevance and highly practical nature.
Learn More in the Library’s Blogs Related to This Topic
In addition to the articles on this current page, also see the following blogs that have posts related to this topic. Scan down the blog’s page to see various posts. Also see the section “Recent Blog Posts” in the sidebar of the blog or click on “next” near the bottom of a post in the blog. The blog also links to numerous free related resources.
To round out your knowledge of this Library topic, you may want to review some related topics, available from the link below. Each of the related topics includes free, online resources.
Also, scan the Recommended Books listed below. They have been selected for their relevance and highly practical nature.
We and our partners store and/or access information on a device, such as cookies and process personal data. This includes unique identifiers and standard information sent by a device for personalized ads and content, ad and content measurement, and audience insights.
With your permission, we and our partners may use precise geolocation data and identification through device scanning. You may click to consent to our processing as described above. Alternatively, you may click to refuse to consent or access more detailed information. You may also change your preferences before consenting.
Please note that some processing of your personal data may not require your consent, but you have a right to object to such processing. Your preferences will apply to this website only. You can change your preferences at any time by returning to this site or by visiting our privacy policy.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
I’m okay with functional and analytical cookies for website functionality. I agree to the use of cookies under these circumstances:
Will be used if you visit Managementhelp.org
Are necessary for the proper functioning of the website
Enable you to use the site securely
Do not collect personal information that’s not needed for personalization
Help us detect any bugs and improve our website
Collect anonymous information about your visits to our website
Are never used for remarketing
I’m okay with the functional and analytical cookies for marketing purposes and not for website functionality.
Are used to monitor the performance of marketing campaigns
Enable us to compare performance across our marketing campaigns
Are used for individual targeting
Can be used for retargeting on other partner platforms
Enable a more personalized experience
