Do you entrust financial oversight of your organization to a few “financial or accounting types” on your board? Do some eyes glaze over when you start talking about cash flow, capitalization, balance sheets, and investment policies? Do you spend more time talking to your board about their annual fundraising commitments than about the long-term fiscal health of the organization? When a financial crisis looms, do you hear from some board members, “How did this happen?” Raising annual funds is a critical part of the board’s job, but even more important is the board’s stewardship of the orchestra’s fiscal health.
In this insightful interview, representatives of the Rhode Island Philharmonic and the Louisiana Philharmonic Orchestra share their challenges in getting their boards to participate in fundraising, and to embrace a broader fiduciary role. Visit americanorchestras.org to listen now.
Posted November 1, 2011