July 19, 2013
Some of the most successful nonprofits have a team of board members who not only bring diverse skills to the organization, but also work well together to solve problems occurring within the organization. This is why it is extremely important to build a team of board members who have endless potential. According to new research from Ernst & Young, integrating diversity into the team of board members can bring in a number of differing perspectives that can lead to spirited discussions and the best strategic decisions at the organization.
"Diversity in skill sets, experience, expertise, viewpoints and gender can lead to a stronger, more effective board," said Bryan Pearce, director of Entrepreneur of the Year and venture capital advisory group at Ernst & Young.
Women directors can supplement lead to more success
Many nonprofits are run similarly to companies throughout the United States, so it is important to note that the study found businesses in the top quartile of the number of women on their board outperformed the bottom quartile by 26 percent. Furthermore, enterprises with board members who are women achieved higher average growth over the past six year. Nonprofit leaders may want to take this research into account, apply it to their own organization and add more women to their board.
"A diverse board can be a valuable resource when it comes to diversity in hiring, financing alternatives and in diversity supplier situations," said Tom McDonnell, CEO for the Ewing Marion Kauffman Foundation.
Women can make a difference right away
Nonprofits work throughout the year to support their cause, and board members play an important role in the growth and prosperity of an organization. Women who take on advanced roles know how important the nonprofit is to its beneficiaries and take their jobs very seriously. Here are some suggestions from Today's Chicago Woman magazine for women who join a nonprofit's board of directors:
In addition to their money-saving purpose on behalf of nonprofit organizations like AHS, First Nonprofit’s Nonprofit Unemployment Fund
streamlines the information we need to efficiently manage unemployment claims. Our relationship with NU Fund gave us access to such things as advice on planning for what’s ahead and how to analyze cost scenarios when unexpected events occurred. Both experiences were very helpful.
The Ensight Skills Center has enjoyed working with First Nonprofit for several years. We are enrolled in their Unemployment Savings Program and although we have not required a lot of intervention, there have been a few times. I know others have dealt with the same problem of unemployment fraud over the last year and in our case, a call to First Nonprofit (they actually answer their phones) cleared up the issue. They also sent us a letter to send to all our employees telling them what they needed to do to prevent this in the future and protect themselves. What a relief! Over the years if I have questions or concerns, they are happy to listen, advise and help if they can. Another BIG advantage of using First Nonprofit is that all the money that is paid into the Unemployment Savings Program lives on my balance sheet as an asset. The money continues to be Ensight’s not the governments. First Nonprofit has certainly given me peace of mind.
Visually Impaired Preschool Services has been a client of First Non-Profit since it was first offered as a benefit of VisionServe Alliance. We completed a thorough evaluation of cash savings to our agency before taking advantage of this wonderful benefit and it has been a very wise decision. Our experience with the processes from accounting to claims have been professional, expeditious and easy.
NYCON members who use First Nonprofit’s programs enjoy enduring savings and improved efficiency. Our association knows that success, because from the beginning, we achieved the same great benefits. Great savings, seamless technology, and responsive service. NYCON highly recommends First Nonprofit’s remarkable unemployment solutions.
It has been our sincere pleasure to maintain a strong, vibrant business partnership with First Nonprofit. We greatly admire their strong industry knowledge, technical expertise, constant professionalism, knowledgeable and dedicated staff. They are always extremely responsive, personable and provide us with the necessary guidance and recommendations on a numerous variety of employment scenarios. We
Because INCS advocates for the operating conditions that allow charter public schools to provide high quality public education, partnering with First Nonprofit was an easy decision. First Nonprofit’s unemployment programs provide our member schools two operating elements crucial to their ability to provide high quality public education: savings and budget certainty. Capable, committed teachers are the key to student success. By participating in the unemployment insurance savings plan, charter public schools gain peace of mind and are able to invest more money in their teachers.
Throughout our membership in the Unemployment Savings Program, First Nonprofit understood our demands, community dynamics, and the importance of seamless services; that allowed us to serve our constituents better.