Board response to the economic meltdown

A recent article advocates that with the financial difficulties confronting nonprofits now, it is an important time for board chairs to recognize their critical role in guiding their organizations. The author, Terrie Temkin, advocates that now is the time to call a special meeting to discuss the issue and to keep the conversation focused on strategic issues (not budget cuts...the ED should do that work). Here are suggested discussion questions:

• How well are you meeting your key commitments to the community?
• Are some of your programs and services more closely aligned with your vision and values than others?
• Which, if any, of your programs and services pay for themselves?
• What is the relationship between the financially viable programs and the programs most closely aligned with your vision and values?
• If you were starting the organization over from scratch tomorrow, what would the organization look like?
• Where have you been focusing the majority of your resources? Why?
• Where should you be focusing your resources given the financial picture and its impact not only on your organization but on your clients?
• If your revenue streams are not as diversified as they should be, what can you do today to change that?
• Should you consider merging with another organization or sharing backroom services?
• If so, with what organizations should you be talking and what might you propose?

How you are you responding to the current financial challenges? Is your board proactively discussing these issues?