Four Keys to Financial Success for NSA Chapters Chapter Leadership Institute What Chapter Leaders What Chapter Leaders need to know about Money need to know about Money With Stephen Tweed, CSP With Stephen Tweed, CSP 2002 2002- -2003 NSA President 2003 NSA President “Chapter Leadership Institute 2007 “ Chapter Leadership Institute 2007” ” Chapter Leadership Institute My Head Spins Head Spins … … My Over “ “Financial Financial” ” Stuff! Stuff! Over 1. Frame Your Financial 1. Frame Your Financial Chapter Leadership Systems Systems Institute 1 NSA Chapter Leadership Institute 2012
Four Keys to Financial Success for NSA Chapters 1. Frame Your Financial 1. Frame Your Financial Chapter Systems Systems Leadership Institute Review Your Chart of Accounts Review Your Chart of Accounts Establish your checking account Establish your checking account procedures procedures Define your bill paying procedures Define your bill paying procedures Create your expense authorization Create your expense authorization procedures procedures Decide where to put your investments Decide where to put your investments Find a “ “green eye shades green eye shades” ” Find a Chapter member to be Treasurer member to be Treasurer Leadership Institute Chapter Leadership 2. Build Your Budget 2. Build Your Budget Institute 2 NSA Chapter Leadership Institute 2012
Four Keys to Financial Success for NSA Chapters Chapter Leadership 2. Build Your Budget 2. Build Your Budget Institute Plan First! Plan First! --- --- Then Budget Then Budget Project your annual revenue by income Project your annual revenue by income source source Plan your annual expenses by line item Plan your annual expenses by line item Communicate your budget to officers and Communicate your budget to officers and committee chairs committee chairs Action Item Action Item Chapter Leadership Institute Make a list of the sources of Make a list of the sources of revenue for YOUR chapter. revenue for YOUR chapter. How much money does How much money does YOUR chapter need to “ YOUR chapter need to “net net” ” in your year as President? in your year as President? Annual Board Retreat Annual Board Retreat Chapter Leadership Institute 3 NSA Chapter Leadership Institute 2012
Four Keys to Financial Success for NSA Chapters Chapter Leadership Institute Chapter Leadership Institute Chapter Leadership Institute 4 NSA Chapter Leadership Institute 2012
Four Keys to Financial Success for NSA Chapters Chapter Leadership Institute 3. 3. Focus on Revenue Focus on Revenue Over Over Expenses Expenses to get Profit to get Profit “ “You can You can’ ’t Save Yourself t Save Yourself into Prosperity” ” into Prosperity Stephen Tweed Stephen Tweed 3. Focus on Revenue over 3. Focus on Revenue over Chapter Expenses to get Profit Expenses to get Profit Leadership Institute Focus on revenue generating events Focus on revenue generating events Build a budget for each event Build a budget for each event Set a fund balance goal Set a fund balance goal Determine how you will use your surplus Determine how you will use your surplus Chapter Leadership Institute 5 NSA Chapter Leadership Institute 2012
Four Keys to Financial Success for NSA Chapters Presentation Skills Workshop Presentation Skills Workshop Chapter Goals: Goals: Leadership Institute To help local business owners, executives, professionals, To help local business owners, executives, professionals, and community leaders improve their public speaking and community leaders improve their public speaking skills. skills. To increase the visibility and brand awareness of NSA KY To increase the visibility and brand awareness of NSA KY in the greater Louisville area. in the greater Louisville area. To create a showcase where NSA KY members can To create a showcase where NSA KY members can demonstrate their skill to local business and community demonstrate their skill to local business and community leaders. To generate significant non- leaders. To generate significant non -dues income for NSA dues income for NSA KY. KY. To generate significant non To generate significant non- -dues income for NSA KY. dues income for NSA KY. Results Results Chapter Leadership Institute 85 business leaders and sales people 85 business leaders and sales people attended attended 5000 brochures mailed 5000 brochures mailed Partnered with MPI, KSAE, ASTD, SMA Partnered with MPI, KSAE, ASTD, SMA 12 members presented 12 members presented $2,900 added to chapter treasury $2,900 added to chapter treasury Chapter Leadership Institute 6 NSA Chapter Leadership Institute 2012
Four Keys to Financial Success for NSA Chapters Chapter 4. Measure and Manage 4. Measure and Manage Leadership Institute Your Financial Results Your Financial Results “What gets measures get managed… What gets rewarded gets repeated.” Stephen Tweed, CSP 4. Measure and Manage 4. Measure and Manage Chapter Your Financial Results Your Financial Results Leadership Institute Prepare a monthly financial report Prepare a monthly financial report Profit & Loss Statement Profit & Loss Statement Balance Sheet Balance Sheet Make the financial report a regular agenda item Make the financial report a regular agenda item for board meetings for board meetings Provide financial reports to chapter members Provide financial reports to chapter members Prepare an annual audited financial statement Prepare an annual audited financial statement Build next year Build next year’ ’s budget s budget Account Balances Chapter As of 6/30/2012 Leadership Institute Bank Accounts Checking $ 775.82 Savings $8,733.65 Paypal $1,325.07 Investment Accounts CD $11,033.24 OVERALL TOTAL $21,867.78 7 NSA Chapter Leadership Institute 2012
Four Keys to Financial Success for NSA Chapters Profit & Loss Statement Profit & Loss Statement Chapter Leadership Institute Chapter Leadership Institute Chapter ? Leadership ? Institute Questions? Questions? ? ? ? ? ? ? 8 NSA Chapter Leadership Institute 2012
Four Keys to Financial Success for NSA Chapters Keepers Keepers Chapter Leadership Institute List the three things from this program that List the three things from this program that have the most “ have the most “take take- -home home” ” value for you. value for you. What are you going to do with these What are you going to do with these “keepers? keepers?” ” “ Stephen Tweed, CSP Stephen Tweed, CSP Chapter CEO CEO Leadership Leading Home Care … … Leading Home Care Institute a Tweed Jeffries company a Tweed Jeffries company 9750 Ormsby 9750 Ormsby Station Road Station Road Louisville, KY 40223 Louisville, KY 40223 www.leadinghomecare.com www.leadinghomecare.com Stephen@leadinghomecare.com Stephen@leadinghomecare.com Chairman, Board of Trustees, NSA Foundation Chairman, Board of Trustees, NSA Foundation Cavett Award Winner Cavett Award Winner – – 2012 2012 President, NSA KY President, NSA KY – – 2008 2008 Treasurer, Global Speakers Federation - - 2007 2007 Treasurer, Global Speakers Federation President, National Speakers Association - President, National Speakers Association - 2003 2003 9 NSA Chapter Leadership Institute 2012
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