19Mar 2014 by Fred Crooks
Principle 6: Protection of Assets

Principle 6: Protection of Assets

Business Advisory, Non Profit Principles: Steering You in the Right Direction
The board of a charitable organization must be certain that the organization is organized and has a good system to protect their assets. Such assets include property, financial, human resources, programmatic content, material, integrity and their reputation. These all must be protected from loss or damage. Thus, the board should be regularly reviewing the organization’s need for general liability and liability insurance for their directors and officers. CORE CONCEPTS -The board manages the organizational assets. -Every organization should have adequate risk management. -Risk can be either assumed, eliminated, protected, or even delegated. -The board, the organization, and those associated with the organization all need to be covered with liability protection. LEGAL AND COMPLIANCE ISSUES -The board is responsible for watching the activities of the organization. -Each board member has duties…
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18Jan 2014 by William Simi
The 3 Bottom Lines – Mastering Business Fundamentals

The 3 Bottom Lines – Mastering Business Fundamentals

Business Advisory
The name of our Blog has raised some questions from readers.  What do we mean by the “3 Bottom Lines”?  We’d like to take credit for the concept but we can’t.  It was first articulated in an excellent little book by Chuck Kremer and Ron Rizzuto called Managing by the Numbers, A Commonsense Guide to Understanding and Using Your Company’s Financial Statements.  In their book, the authors use a focus on the three essential metrics of profitability, operating cash flow and return on assets or equity to frame their discussion about how business owners can use their financial statements proactively to evaluate business performance and make important strategic decisions about the future. Most people are familiar with the concept of Net Profit as a means of measuring business success and,…
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