National Board Meeting September 9, 2014 4:00pm-6:00pm EST
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Transcript of National Board Meeting September 9, 2014 4:00pm-6:00pm EST
National Board Meeting
September 9, 2014
4:00pm-6:00pm EST
Board Meeting Agenda
Welcome to Fredi Stevenson Program Update Committee Reports
Finance Development Governance
Organizational/Board Goals 14-15 Future Meeting Schedule
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Program/Staff Update
StaffStaff totals for the year- 89 FT employees and 2 AmeriCorps VISTA volunteersFirst week experience and all-staff meeting took place in July in BostonFinal stages of hiring for Director of Marketing and Communications on National TeamNational Team and Site ED’s are doing an overnight retreat in two weeks- focus will be on communication, growth and decision rights
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ProgramsAccess Program in final two weeks of recruitingSecond randomization for RCT evaluation takes place next Friday
NY and BOS need to pull off some big numbers to finish
Chicago Success Program recruiting is on target- Access running behind- but there is time to catch upSuccess Direct student recruitment is complete- was a struggle to reach goals 250 in NY, 120 in MA and 75 in CHI
Tight timeline to recruit Unreliable partners
Success Program Numbers
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SiteFirst Year
Second Year
Middler 1
Middler 2
Junior SeniorSite
TotalsNot
Assigned
Massachusetts 548 535 156 63 350 254 1906 102
New York City 390 264 35 2 57 6 754 29
Chicago 75 0 0 0 0 0 75 0
College Year Total
1012 802 187 67 407 260 2735 131
-Middler 1 refers to a student in their 3rd year with Bottom Line but who is not yet a Junior (Junior is defined as 3 or 4 more than 4 semesters from graduation)-Middler 2 refers to a student in their 4th, 5 th, or 6th year with Bottom Line, but who is not yet a Junior -Currently, more than 85% of our students from the class of 2009 have graduated, or are on track to graduate within 6 years (by spring 2015)-Not Assigned means that the student is not active in our program and no longer has a counselor
Financial Report
Welcome Lilee Dethchan, Director of Finance Goals and plan for the year• Continued improvement and documentation of
policies, procedures, and reporting i.e. Monthly revenue, expense, cash reporting and
reconciliation • Research and Develop Investment Policy Statement
and strategy• Timely Board and Finance Committee Support
i.e. Provide regular reports on action items from Finance meetings
• Facilitate and assist in Annual Budget Process i.e. Ensure all relevant staff are trained on budget and
revenue tools. • Research accounting systems and consider
replacement of QuickBooks by July 2015
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Profit and Loss Through 8/31Jul - Aug 14 Budget $ Over Budget
Ordinary Income/Expense
Income4001 · UNRESTRICTED DONATIONS 259,386 175,104 84,282
4002 · RESTRICTED DONATIONS 15,000 53,040 (38,040)
4004 · SCHOLARSHIP DONATIONS 0 23,603 (23,603)4005 · In Kind Donations 305 0 305
4500 · DEVELOPMENT EVENTS 9,422 2,200 7,222
Total Income 284,113 253,947 30,166
Expense
6100 · PERSONNEL 882,692 918,744 (36,052)6200 · OCCUPANCY EXPENSE 76,692 102,802 (26,110)
6310 · EQUIP MAINT & RENTALS 4,698 4,640 58 6330 · BUSINESS INSURANCE 1,965 1,758 207
6350 · OTHER CHARGES & FEES 9,807 4,176 5,631
6363 · OFFICE SUPPLIES 7,786 5,050 2,736 6364 · POSTAGE 415 1,258 (843)
6365 · PRINTING & PUBLICATIONS 1,954 5,167 (3,213)
6400 · PROFESSIONAL FEES 6,878 24,565 (17,687)
6479 · RECRUITMENT, TRAINING & TRAVEL 19,478 30,193 (10,715)
6500 · PROGRAM EXPENSE 28,066 60,905 (32,839)6530 · DESIGNATED SCHOLARSHIPS 16,426 42,667 (26,241)
6550 · TELECOMMUNICATIONS 19,028 5,584 13,444
6560 · TECHNOLOGY 13,016 23,128 (10,112)6570 · STUDENT SUPPORT CENTER 0 0 0
7002 · Uncategorized Expenses 9,191 0 9,191 Total Expense 1,098,092 1,230,637 (132,545)
Net Ordinary Income (813,979) (976,690) 162,711
Other Income/Expense 19 0 19
Net Income (813,960) (976,690) 162,730 6
Balance Sheet (as of August 31)
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Aug 31, 14 Aug 31, 13 $ Change
ASSETS
Current Assets
Checking/Savings 2,350,557 2,924,036 -573,479
Accounts Receivable 3,422,151 2,633,606 788,545
Other Current Assets 134,533 87,960 46,573
Total Current Assets 5,907,241 5,645,601 261,640
Fixed Assets 358,308 215,105 143,203
TOTAL ASSETS 6,265,549 5,860,706 404,843
LIABILITIES & EQUITY
Liabilities
Current Liabilities 121,310 197,750 -76,441
Long Term Liabilities 47,754 47,754 0
Total Liabilities 169,064 245,504 -76,441
Equity
3001 · Retained Earnings 6,910,445 5,643,201 1,267,245
Net Income -813,960 -27,999 -785,961
Total Equity 6,096,485 5,615,202 481,284
TOTAL LIABILITIES & EQUITY 6,265,549 5,860,706 404,843
Cash Flow Projection as of 8/31
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Days of Cash is determined by taking the cash in the bank and dividing it by the expected expenses over the next 365 days
Prior months use actual dollar amounts. Future months are determined using budgeted monthly expenses and a projection of how much revenue
is going to come in- discounted by likelihood The further out in the future, the less accurate the guesses on revenue sources will be in likelihood of
receipt, actual dollar amounts and in date to be received
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Q1 – HighlightsPoses Family Foundation, MSDF, USA FundsCVS Caremark – Interest match & National geographic overlapInitial planning meetings complete w/ 4 board members, 3 in process; 79K committed to national to dateCorporate Matching Improvements are underway
Where we need the most helpIntroductions to your personal and professional networksPipelining candidates for Donors and potential Board Service
Development Overview
FOUNDATIONS
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Goal: Increase the # of proposals that focus on BL – National issues / needs.Target Amount: $600,000
Objectives Q1 Q2 Q3 Q4
Source New Grants that align w/ BL
ARK, Fossil, Starbucks, Edison, Ottaway, Mott,
Tom’s of ME.
Outreach activities to widen network
• Delegates & Ed Dept.• Monthly Newsletter• America Forward
• Contacts: TY-45 LY-2
Attend National Events DC – JulySun Life - AugNCAN – Sept
Send out 9 LOIs/ Qtr Ottaway, Edison, Poses, ARK
Submit 3 proposal / Qtr Submitted: Poses, ARK, Ideas Matter
Pending: USA Funds
Secure VISTA Complete - July
Leverage relationships with current funders/ to source new opportunities
Repositioned MSDF Grant to keep 161K of unused
Evaluation Funds.
CORPORATIONS
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Goal: Secure support from 4 new corporations. Companies should have a national brand and a footprint that overlaps with our current or future geography. Target Amount: $100,000 - $200,000
Objectives Q1 Q2 Q3 Q4
Source new companies that prioritize BL issues
New companies: Fossil, GE Power & Electric,
Gillette.
Rely on board members to
ID or introduce us to leads.
Hyatt-Ballard, PEPSICO, GMO-Shell, Chartis Grp-
Graboys, Goldman Sachs-Bakru, Schultz?
Develop a more
sophisticated response for
STEM inquiries
On hold for Marketing / Communications.
Secure 4 meetings/month. July – Pragya Sys, Sun Life, IPG, Morgan Stanley,
GMO.Aug – CVS, Persistence+.
Sep- CVS visit to BL, Starbucks
National Target List 12 applications have been pulled and are in process
for Q2 submissions.
Other – Corporate Match Included in all TY letters.Website upgraded.
LY donor outreach project.
INDIVIDUALS / BOARD
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Goal: 1) Create individual giving plans in support of National. Use as a pipeline for future Board Members. 2)Ensure Board dollars support National budget. Target: $195,000.
Objectives Q1 Q2 Q3 Q4
Increase new National contacts by 100%
TY – 45, LY 2
Assist Board to execute at least 1 personal appeal/ event to their networks
K.M. is considering appeal.
D.T.– Jan Event.P.S. – willing to host
party.
Execute at least 1 National appeal
Planning for Dec and June.
Newsletter Solicitation 6 weeks
In Process
Increase Give Get to 25K.
Completed
Increase Board Lift At least 79K committed
Meet w/ Board review LY and plan TY.
Met with 5 so far. 1 pending and 1 in Q2.
Add 2-3 Board members.
Fredi Stevenson
Confirm 100% of support by end of Q1
Not confirmed as of 9/2. Marc, Wes, Fredi.
EARNED INCOME
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GOAL: Investigate fee-for-service options. Analyze potential revenue streams and business planning with the goal of piloting and implementing a solution. Target: $50,000-$100,000.
Objectives Q1 Q2 Q3 Q4
Corporate Paid Internships
No Action
Higher Ed: Consulting / Training
• Phase I of Poses / Bridgespan work
approved. • ROI research
request in process with Kennedy
School.
K12/Higher Ed: Direct Service
2-3 FITW Grants – Salem State, BU,
Wheelock
Events: Conference / Convening
Included as a significant funding request in USA
Funds submission
Governance Report
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Priorities for the YearAdd 2-4 New MembersCreate Annual Board CalendarKey Document Review
Board Prospects Tracking Sheet Board Member Orientation Outline Board Evaluation Survey Board Member Class Chart
Other Items for Review Board Member Evaluation CEO Evaluation CEO Succession Conflicts of Interest Questionnaire
Set Regular Call Schedule
Board Candidates
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Active Candidates
Board Member Name Candidate Home City Title Company
Dave Terry Tony Cheng NYC CEO TripFilms
Dave Terry Ted Preston Boston Consultant
Dave Terry Soreb Oberg Boston Managing Director Tommy Lee
Dave Terry Ken Graboys Chicago Managing Director The Chartis Group
Marc Smith Marty Barrington Richmond CEO AltriaMarc Smith Liz Lempres Boston Director McKinseyMarc Smith Chip O'Hare Boston CEO (Retired) JOH
Patti Saris Tony Wolfman BostonExecutive Advisor / VP
Bentley / The 30% Coalition
Patti Saris Greg Shell BostonPortfolio Manager - International
GMO
Bob / Kay Michael Ryan NYC CEOMDR Capital Management
Bob / Kay Michael Ryder NYC Managing Director Blackstone GroupBob / Kay Tina Lee EVP World Journal
Bob Ballard Jason Ballard ChicagoOperations Manager / Analytics
Hyatt Hotels Corp
Kay Jeannie Schulz CA
Kay Ashok Bakhru NYC / MAChairman of the Board
Goldman Sachs
Wes Frank Borges Hartford CEO Landmark Partners
Greg Eric Moreno LA SVP Fox Networks
Organizational Goals 2014-2015Organizational Goals
Key Elements Timeline
Address Organizational Growth Options
Staff Off-Site on Sept 22 to narrow scope of options
Bridgespan project on work with colleges
Discussion with Wellspring about MA planning project
NY Development Consulting Project
Build our National Oversight and Support Functions. Improve overall operations
Sept 22 Senior Team meeting to discuss ownership and communication challenges
Development of Process Documents and clear delineation of Responsibilities
Continue to centralize overlapping responsibilities including Marketing, Finance, Program support
Provide Sites with Premium Support 16
Org Goals (cont)
Organizational Goals
Key Elements Timeline
Enhance External Relations and Fundraising
Grow and Diversify our Funding Sources – focus on individuals and explore Fee for Service revenue
Build External awareness of the Bottom Line Model
Deliver the highest quality Access and Success programs in the country
Reach Student Service Numbers while continuing to codify materials building quality and leading the sector
Proactively look at options to create efficiencies in current model
Discuss Program improvements throughout-focusing on Employability, our staff training and management
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Board Goals for 2014-2015Goal Key Elements Timeline
Build Board Efforts through newly defined Committee structure:Development, Governance and Finance
Schedule meetings for the year, set goals and define staff and board member roles for each activity
Discuss at Sept Board meeting and develop plan
Continue to build on Financial policies, systems and structure work that from last year
Set regular calendar to engage with staff around critical decisionsDefine IPS through a Sub-Committee and solicit external (pro-bono) support
Discuss at Sept Board meeting and develop plan
Build Fundraising Capabilities and effectiveness of National Board
Increase Give/Get Goals to be in line with other National Boards
Utilize Board planning documents to increase communication and transparency and hold each other accountableIncrease staff support for personal asks and targeting
Discuss at Sept Board meeting and develop plan
Add 3 New National Board Members by June 2015
Ensure all Board members are actively working their networksAdd members by March if possible
Identify key targets by end of Sept and report on progress regularly
Address Strategic Growth Options Utilize recommendations from staff to clearly define plan for the future
Staff to present Board options and discussion
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Future Meeting Schedule
Upcoming Meetings:Wed, January 15th, 3pm (Phone or In Person) NYC Bottom Line Office
Wed, March 4, 2014, 4pm (Phone)
Th/Fri, June 4&5, 2014 (In Person- Boston, MA)
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