February 12 launched the BNY Mellon “Ready to Compete” project, with 11 nonprofits making up the inaugural cohort. Our second cohort will launch in April, and we’re looking for 14 more nonprofits who are looking to address two key areas of nonprofit management: finance and human resource (HR) management. Applications are currently being accepted! The deadline to apply is March 15.
Like all work at the Bayer Center, this program will employ best practices and be custom to each organization. Thanks to the generosity of BNY Mellon, the cost of these engagements valued at $6,500 are just $500 per organization.
This thoughtful application and selection process will ensure selection of organizations to create a cohort ready to make full use of the expertise offered. Consultants will work carefully to identify the most significant challenges and put the right tools and team to work to resolve them. Each agency in the cohort will begin by completing a comprehensive assessment and be provided consulting support to analyze the findings. One or two urgent issues will be identified and resolved by our consulting team. The product of each engagement will be a roadmap of the particular issues facing the agency, ordered in priority, and a concrete solution to one or two of the most urgent.
Since we also believe in peer learning to lessen the isolation endemic to small organizations, each cohort will convene twice to share their lessons learned and to forge relationships.
Possible issues in finance may include
- Developing a cost-centered budget
- Better management of cash flow
- Creating necessary internal controls
- Assessing financial risks and equipping the board to provide proper oversight
- Working with board and staff to review annual audits and 990s
Possible issues in HR may include:
- Developing a performance management system that fosters values and culture
- Writing job descriptions, screening and interview guidelines
- Compensation studies or help with total employee rewards systems
- HR’s role and ensuring appropriate functions in supporting the board facing
The outcome of this investment will be twenty-five more capable, stable organizations that are equipped to deliver high quality services because their internal house is in better order. In short, this program will help to insure that these agencies are Ready to Compete! Apply today!