I 501(c) You - The Podcast for NonProfit Board Members

As we approach the end of the year, it's time for nonprofit board members to take action and set their organizations up for success in 2025. In this episode of I 501(c) You, we dive into five essential tasks that every board member should tackle before the calendar turns. From conducting performance reviews for your Executive Director to lining up strategic priorities for the upcoming year, we've got you covered with practical advice to keep your organization on track. We'll also explore how to onboard new board members, optimize your year-end fundraising appeal, and show appreciation to your hardworking staff during this season of gratitude. Timestamps: (00:00) 5 Things Board members should do before the end of the year (00:55) #1 Performance review for the Executive Director (01:43) #2 Identify strategic priorities for next year (02:25) #3 Onboard new board members (03:07) #4 Year end campaign (03:48) #5 Give appreciation to staff Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

In this episode, we speak with Joe Schaefer, an expert in employee retention and executive benefits to discuss the often-overlooked topic of retention strategies for nonprofit executives. Joe shares insights on the importance of retention plans from both board and executive perspectives, explaining how these programs can help nonprofit leaders attract and retain critical talent. Joe discusses different types of plans, including qualified and non-qualified options like 457 and split-dollar plans, and we discuss the benefits of these strategies for nonprofits facing recruitment and retention challenges. Joe also provides examples of how customized retention solutions can prevent costly turnover, especially in roles that drive an organization’s mission and funding. Whether addressing board members concerned with stability or executives considering retirement, this episode highlights the value of thoughtful retention planning in strengthening the nonprofit sector. Executive Benefits for Tax Exempt Organizations Timestamps: 00:00 Introducing Joe Schaefer, Vice President - Atlantic Region for NFP  02:35 What do Board Members need to know about Executive Retention plans? 04:30 What do executives need to know about Executive Retention plans? 06:45 From recruiting to retirement 07:30 When should a retention plan be implemented? 11:30 What should boards consider when thinking about retention plans? 13:10 Split Dollar plan explanation 18:15 Split Dollar on the 990 19:10 What size organization does this work for? 20:00 How do board’s start thinking about retaining an executive? 26:00 Find Joe on Linkedin 27:00 Recapping with Read Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

In this episode of I 501(c) You, we dive into the essential role of nonprofit leadership during times of crisis. With recent hurricanes impacting Florida, we discuss how executive directors and board members can maintain focus and adapt effectively when unexpected events disrupt operations. Michael shares key insights on the importance of strategic priorities, staying visible to staff and stakeholders, and making tough decisions grounded in empathy and clarity. He also highlights the power of community resilience in Sarasota and beyond, emphasizing how collective support strengthens both individuals and organizations. Timestamps: 00:00 It is great to be back! 01:05 The importance of strategic priorities 02:30 Leading in times of uncertainty 04:15 No action might be the best action

This week we discuss 3 ideas that have been on Michael’s mind. Number 1 is a concept created by The Patterson Foundation called Cope, Adapt, Innovate. Second is building on our podcast from last week and that is the idea that you cannot overpay for good talent. Third is how the CEO/Executive Director can manage their board. Timestamps: (00:00) Total disruption! Thoughts and prayers for those affected by Hurricane Helene (00:40) Cope, Adapt, Innovate (02:17) You cannot overpay for good talent (03:23) CEO/ED managing their board Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

In this episode, we explore both financial and non-financial strategies to help your organization retain a superstar executive director. One of the key responsibilities of a nonprofit board is hiring, supporting, and—when necessary—replacing the CEO/Executive Director. If you have a top-tier leader, it's crucial to invest in their retention, as they will likely be in high demand elsewhere. With talent being harder to come by, we'll discuss how your board can take action to ensure your executive director stays for the long haul. Timestamps: 00:00 Retaining Your CEO 01:30 #1 - Pay your CEO appropriately 02:20 #2 - Offer a bonus 02:40 #3 - Benefits and deferred compensation 04:10 Nonfinancial incentives Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

This week, we speak with Derik Timmerman, founder of Sparrow Nonprofit Solutions out of Golden, Colorado. Derik spent time in the military, serving 2 tours in Iraq before joining McKinsey & Company for 7 years. During his years at McKinsey, Derik realized he got more "soul food" from his work with nonprofits and left to start Sparrow Nonprofit Solutions. Derik provides a unique perspective on nonprofit leadership. He brings with him his knowledge from McKinsey & Co. combined with a philosophical understanding of the nonprofit sector. Together, we discuss the major differences between for-profit and nonprofit talent, and how nonprofits should rethink hiring. We also discuss earned income for nonprofits, something Derik challenges any organization to invest in, and characteristics of an effective nonprofit board member and executive director. Timestamps: 00:00 Introducing Derik Timmerman, Founder of Sparrow Nonprofit Solutions 03:50 A passion for compassion 05:20 For profits vs nonprofit in terms of talent 06:40 Why do nonprofits not invest as much in talent? 08:30 What makes an effective nonprofit board member and executive director? 13:05 What do board members need to understand about nonprofit operations? 15:18 What should a board understand about fundraising? 17:00 Current issues for nonprofit leaders 20:00 Earned income for nonprofits 24:20 Misunderstanding of nonprofit organizations and leaders 26:45 Writing The 40 Laws of Nonprofit Impact 28:40 Advice for nonprofit board members 30:10 Recapping with Read Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

This week we speak with Tracy Vanderneck, MSM, CFRE and author of The 60-Minute Guide to Building the Infrastructure for Successful Nonprofit Fundraising. Together, we discuss Tracy’s background and her motivation for writing a book. Then, we dive more deeply into sections of the book and get Tracy’s expertise on the board’s role in fundraising, the development committee, and more. Buy the book on Amazon! Timestamps: 00:00 Introducing Tracy Vanderneck, MSM, CFRE 03:30 What do nonprofit board members need to understand about fundraising? 04:30 The board’s role in fundraising 11:00 Why write a book? 13:10 What is “infrastructure”? 17:10 High level thoughts on technology and performance indicators 19:55 What is a culture of philanthropy? 22:25 Developing a case for support 26:00 Development committee on the board 27:45 Final thoughts on board fundraising 31:00 Recapping with Read Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

This week, we speak to Gerhard Toth, Business Banking Manager at GTE Financial. Gerhard currently serves as a board member for United Way Suncoast and Braden River Soccer Club. When it comes to board service, Gerhard is led by passion. He chooses organizations that he truly aligns with the mission. In this episode, Gerhard discusses the difference between 501(c)3 and 501(c)6 board service, the big decision Braden River Soccer Club made recently, and characteristics of a good board member. Timestamps: 00:00 Introducing Gerhard Toth 02:55 Why do you choose to serve on nonprofit boards? 04:40 Compare and contrast serving on UWS and Braden River Soccer Club 06:30 What is your role on the board? 10:16 How has serving on nonprofit boards helped you become a better leader? 12:10 501(c)3 vs 501(c)6 board service 13:45 Advice to potential board members 16:35 Big news for Braden River Soccer Club 20:20 In summary, it is about doing the right thing 22:20 Recapping with Read Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

As we approach episode 100, we think it is time to revisit some past episodes. This week, we revisit episode 32 with Cliff Walters. In this episode, we discuss the importance of bylaws with Cliff Walters of ​Blalock Walters, P.A.​ Cliff offers useful advice for people who are on a board or thinking about joining one. He covers important topics like how bylaws protect both the board members and the organization, explains the duties of board members, highlights risks they should be aware of, and discusses other key issues. Timestamps: 02:10 – Interview starts 02:35 – Cliff introduces himself 03:30 – The importance of bylaws 04:55 – The Articles of Incorporation 05:30 – Cliff’s by-laws philosophy 07:30 – Should you change the Articles of Incorporation or the bylaws for consistency? 09:30 – Is there one area you organizations can improve upon? 10:20 – Every board member should read the by-laws 11:33 – Key parts of the bylaws 13:07 – What committees do you recommend nonprofits have? 17:55 – How should ad-hoc committees be structured? 19:45 – How should committees operate? 22:28 – Cliff’s advice for board member tenure 25:29 – Cliff’s advice for officer tenure 27:45 – Roles and responsibilities of the board 32:15 – Areas of risk the board should be aware of 37:25 – Advice for those who might be interested in serving on a board 39:35 – Recapping with Read Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

This week, we speak with Linda Dale, CPA, board member, and board chair. Linda has served her community through board service for many years and is now serving as the board chair for Space Coast Health Foundation for the second time. Together, we talk about how being a CPA has led her to serving as treasurer on many boards, how understanding financials helps her execute her fiduciary duties, and advice for nonprofit board chairs. Timestamps: 00:00 Introducing Linda Dale, CPA and Board Member 04:15 Serving on a credit union board 07:05 How understanding financials has helped Linda’s board service 09:00 Serving as board chair as second time 11:30 Biggest challenges of being board chair 14:30 Understanding your community 19:00 Do you recommend joining a nonprofit board? 20:50 Advice for board chairs 23:55 Final advice 25:30 Recapping with Read Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

This week, we discuss the need to have strong relationships around the board room. These relationships don't just happen at board meetings. You need to be intentional about forming relationships among your board members. This means, creating opportunities every meeting for people to get to know each other, having off-site board retreats where board members can share a meal, and remembering that just because they meet once per month, does not mean the board is getting any closer. Timestamps: 00:00 - Building and strengthening relationships among board members 01:10 - Be intentional about creating connection Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

This week, we interview Mark Gordon, nonprofit board member and Managing Editor of the Business Observer. Together, we discuss Mark’s motivation for serving on nonprofits boards, what he has learned from serving on boards, 501(c)6 vs 501(c)3 service, and preconceptions about serving on boards. Mark is also the host of From the Corner Office, a podcast by the Business Observer which interviews leaders from around the west coast of Florida. Timestamps: 00:00 Introducing Mark Gordon, Managing Editor for Business Observer and nonprofit board member 03:05 Why do you serve on nonprofit boards? 06:00 Finding his voice on nonprofit boards 07:10 501(c)6 vs 501(c)3 service 09:10 What have you learned from serving on boards? 12:40 What keeps you energized as a board member? 15:10 What makes a good board meeting? 16:55 How do you prepare for a board meeting? 17:55 Advice to potential board members 20:55 Parting words - Mark’s experience podcasting 22:22 Recapping with Read Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

This week, we discuss the constant nature of board recruitment. Just because you recently onboarded this year's board members does not mean you can stop. Next year will come, board members will roll off, and new members are needed to come onto the board. Timestamps: 00:00 Always be recruiting board members 00:40 Use your board matrix 01:40 Put them on a committee Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

For many organizations, July 1st marks the beginning of the new fiscal year. This is a great time to onboard new board members, energize your staff with a new budget, and strategize for the new year. In this episode, we discuss a 6-step process to identify your organization's strategic direction in 2 hours. As a board, you do not need to spend all day discussing your direction. You can get your organization's priorities within 120 minutes. Once you set the priorities, sit back and let the staff carry out your vision for the organization. Timestamps: 00:00 Identify strategic priorities for next year 01:25 Ground yourself in the mission 02:07 SWOT analysis 03:05 Aspirations 03:55 Prioritization 05:25 Step back - and hand it off to staff Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

It is the week of July 4th, a perfect time for your executive director to take a vacation. As a board member, you should ensure that your executive director is taking time off to be able to refresh and continue to drive the mission forward. Many leaders of organizations do not take adequate time off, leading to burn out and lower retention rates. Make sure your Executive Director is taking time off this week. Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

This week, we speak with Chris Williams, owner of Aginto and Advisory Board Chair of Salvation Army Manatee County. Chris came to Salvation Army first as a client, then as a volunteer, and after some time was asked to join the board and then be board chair. In this episode, we discuss how Chris approaches his board meetings, communicating with other board members and with the executive director, and Chris provides words of advice for those who may be interested in serving on a nonprofit board. Timestamps: 00:00 Introducing Chris Williams, Advisory Board Chair Salvation Army Manatee County 04:00 Why did you become board chair? 05:15 How does volunteering to lead a board help you at work? 06:22 Managing a nonprofit board 07:55 Communicating with the Executive Director and Area Commanders 10:25 How do you approach your board meetings? 11:55 What surprised you about the nonprofit space? 13:55 Words of advice for joining a nonprofit board 15:35 Shining light on an organization’s mission 17:10 Last thoughts 18:45 Recapping with Read Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

Last week, we discussed retaining your CEO or executive director. This week, we transition to executive succession planning. We discuss having a plan for an acting CEO, an interim CEO, and a rising CEO. Many organizations want to bring along the next leader while their current CEO is still running the show. However, not every organization has that luxury and needs to have a plan in case the CEO has to step away in an emergency. Timestamps: 00:00 Executive Succession Planning 01:20 Understanding the executive’s role 02:05 3 types of succession plans Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

This week, we tackle the subject of executive retention planning. More specifically, the importance of performance plans, compensation, and bonus structure. High performers want to know how to improve, and they want compensation tied to performance. A problem comes when boards do not clearly define the CEO/ED's bonus structure or compensation plan. It is the board’s role to ensure proper compensation strategy. To do this, they must also complete executive performance assessments. Timestamps: 00:00 Retention planning 01:50 The importance of performance plans 03:55 Compensation and bonus structure Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization. Listen to the podcast on any of the following platforms: Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

This week, we speak with Brian Carter and Jacob Kinsel, both are CPAs at Mauldin & Jenkins. Together, Brian and Jacob provide a masterclass on the financial statements and audits for nonprofit board members. Including an overview of the 990, what boards should be aware of during the audit process, and how nonprofit boards can mitigate fraud. If you listen to any part of this episode, listen to 14:12, where Brian highlights 7 areas of the 990 board members should be aware of. Timestamps: 00:00 Introducing Brian Carter and Jacob Kinsel 02:35 What do board members need to know about the audit process? 05:00 When should an organization have a full audit? 07:20 Common misconceptions about an audit 09:00 The board’s role in the audit 10:20 Should the board engage the auditor? 11:20 What is a 990? 14:12 7 areas of the 990 the board should be aware of 20:45 What is the best practice for approving the 990? 22:50 What controls should be in place to prevent fraud? 27:20 Red flags board members should be aware of 29:20 Final advice for nonprofit boards 31:30 Recapping with Read Listen to the podcast on any of the following platforms: YouTube Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast

Recently, I had the pleasure of facilitating a board retreat with a high performing, aligned, and productive board. In this episode, I discuss the 5 observations I have from working with this nonprofit board. Timestamps: 00:00 5 observations of a high performing board 01:20 Aligned on the mission 01:40 Understands its role 02:15 They were educated and prepared 03:00 Productive discussion 03:40 They had fun Listen to the podcast on any of the following platforms: YouTube Apple Podcasts Spotify Podcasts Amazon iHeartRadio Visit us at: www.thecorleycompany.com/podcast