Good morning from a Modern Nonprofit Podcast! Today we have a financial professional & co-founder of Fairlight Advisors, Maya Tussing.Maya and her team specialize in investing for nonprofit organizations. So, naturally our conversation today will include many topics from the viewpoint of the financial statements, those within the organization that Maya is working with directly, and so much more. Stay tuned for the conversations because you never know what you may need to hear! Organizational Roles When the conversation of finance comes about, many people pass over the topic because of its complexities. To make it simple, let’s begin with the ‘who?’ Who are Maya and her team working with directly within the 501c3 organization?When Fairlight Advisors are brought into the conversation, they will typically see a large amount of cash sitting around, maybe in a bank account here or CD there. Common practice is for an organization to have a Director of Finance who oversees the financial health of the organization. Maya also sees this individual within the organization partnered with the board member who is over the finance committee. In essence, the director and board chair work hand in hand to assure the best steps are taken when considering the nonprofit’s finances. This can also many times be a great partnership because it allows for the board to be involved in the process, instead of hearing about it at the monthly/quarterly meetings. The expectation of these two roles, whether separate people, (or one person in smaller organizations) is to be able to communicate the financial health of the organization quickly and effectively while in a presentation or board meeting. Simply put, it's important to know where everything is. Many organizations have relationships within the community, and because of this they decide to put a few dollars with a bank to maintain a relationship or have an outstanding dollar amount hiding elsewhere for a rainy day. The job of the Director of Finance, Treasurer, whatever title is given, is to be informed on what is going on in the organization financially and capable of speaking on it. On the flip side, if someone is asked to join the board of directors and potentially has financial experience, they may be asked to oversee the finance committee. This is wonderful! But, if that person’s job includes reading the financial statement that is given to them ever so often, they aren’t being used to their full capacity. Both the job of the Director and Board member are to dig deep into the finances of the organization in order to make a collective decision on how to move forward with the resources that are available. Asking the Right QuestionsMoving right along, Tosha seeks out another great talking point with Maya. She inquires with Maya, ‘What are questions a treasurer should be asking executive leadership, or those running the organization?’ For more resources from Maya and her team, you can visit their website, Fairlight Advisors.com. Here you can also find free resources from blogs, a guide to start your endowment and high level information you may need to know. Please be sure to engage with the interview. Whether you enjoy listening to it, reading about it, or watching us on YouTube, make sure you review, share, and engage with A Modern Nonprofit Podcast. You can find Tosha and the Charity CFO team on Youtube or our website, thecharitycfo.com!