Know This...About Community

What I’ve Learned About Doing Things Together

What you’re trying to do in your community is important.  Whether it is the church, a nonprofit organization, a school, or a business, it matters what you do and how you do it.  It also matters that you’re prepared for what happens next.  

Whether you are fundraising, team building, or managing a budget, there are things to know that will make it easier and more likely that you’ll be successful. You may not be aware of all of these things.  That’s why I’m here!

What do you know about:

Strategic Planning

It all starts with a plan. And I’m here to tell you that a Mission Statement on the wall is not a plan.  You need a plan for how you’ll raise money, what you’ll do with it when you have it, and how you intend to maintain income for operations after you’ve succeeded.  You may even need to plan in case of failure. 

One of the most critical areas where a financial advisor can help is in developing a strategic financial plan. Non-profits, churches, and community organizations often face unpredictable income streams, making long-term planning challenging.

Know This:  Find someone you trust to help create a comprehensive financial plan that includes budgeting, cash flow management, and forecasting. Make sure this person understands non-profits, legislation, tax strategies, and contribution management.  Good intentions aren’t enough.  You’ve got to plan.  

Endowment and Investment Management

Many churches and community organizations rely on endowments or investments to fund their programs. This needs to be done wisely, on purpose, and within the rules.  

Know This:  There are right ways and wrong ways to manage investments.  Not just legally but practically and toward a success-based outcome.  

Risk Management and Insurance

If you’re involved in a church or community project, you’re likely a positive person.  You have dreams of success and making good things happen.  But things can and do go wrong. 

Don’t get caught looking at the sunshine while the storm is brewing behind you.  Whether it’s safeguarding against liability issues, protecting physical assets, or ensuring that staff and volunteers are covered by adequate insurance, understanding and managing risk is crucial.

Do this:  Find someone you can trust who will spell out the good and the bad.  Plan for success, but prepare for failure.  That means safeguarding against liability issues, protecting physical assets, and ensuring staff and volunteers are covered against injury.  Just make sure you know what can go wrong because they just might.  Good intentions are a great roadmap, but not always to where you wanted to go.  

Capital Campaign Planning and Donor/Fund Management

It is crucial to set up your organization to raise and be responsible for the generation and expense of incoming funds.  If you don’t understand the tax rules, the systemic opportunities, and the expectations of the biggest supporters, then you could find yourself with more hassles and headaches than you bargained for.  

Do this:   Find a trusted advisor who has been a part of these efforts before so you know what to look for.  Then, set realistic fundraising goals, plan how to allocate the raised funds, and create a timeline for implementation. When you’re playing with people’s money, you’re playing with fire, and that’s nothing you want to learn by trial and error. 

People like you, people who want to do good things in the world, are good people.  But good people can be taken advantage of and end up on the wrong side of what felt so good about getting involved in the first place.  

Thank you for what you do.  Keep doing what you do.  You can be good…and smart!

James Collins is a Wealth Advisor and founder of Semper Fidelis Financial. To reach James, call or text 330-904-2593