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ERIC Number: ED555859
Record Type: Non-Journal
Publication Date: 2014-Aug
Pages: 28
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: N/A
Navigating the New Normal: Financial Imperatives for MSI Effectiveness and Avoiding Financial Exigency
Hector, Gerald
Southern Education Foundation
Serving on the board of any nonprofit organization has taken on added significance in recent years. There is greater accountability for trustees and for the overall mission and effectiveness of the organizations that they have the ultimate fiduciary responsibility to maintain. The changes have challenged not only the personal commitment that board members should have for the organizations that they oversee, but the changes also bring into sharp focus the competencies and skill sets that are necessary to oversee and set policy for their respective organizations. Trustees are now awakening to the reality that they must have a greater understanding of the finances of the institutions they oversee. Given the multifaceted nature of the revenue and expense elements of a college or university, trustees now have to ask themselves the tough questions: do I really understand the financial health of my institution, and how the decisions of the board are affecting it? This brief provides some factors for trustees to consider, and explores some of the difficult issues that will affect Minority-Serving Institutions (MSIs) in the years to come. It is not intended to be an exhaustive listing of the issues, but will pique the interest of trustees to ask deeper and more probing questions about their institutions, and to equip MSI board of trustee members with strategies that will help them become acutely aware of, and engaged in the financial future of their institutions. The brief also includes: "Practical Steps for Boards and Administrations" and "About the Author."
Southern Education Foundation. 135 Auburn Avenue NE 2nd Floor, Atlanta, GA 30303. Tel: 404-523-0001; Fax: 404-523-6904; e-mail: infosoutherneducation.org; Web site: http://www.southerneducation.org
Publication Type: Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Southern Education Foundation