156. Minisode: How Nonprofits Can Navigate the Fiscal Tightrope - Chyla Graham
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Overview
Meet Chyla. She might be the only CPA you'll ever meet who swings on a trapeze in her spare time. Chyla is a nonprofit operations whisperer - breaking down even the most complex topics into easy relatable nuggets. In this quick minisode, we dive into how to build a strong financial infrastructure for your nonprofit: finding the key steps and jumping off points (just make sure there's a safety net just like any good trapeze artist knows!) and let's get going.
Today’s Guest
Chyla Graham, President, CNRG Accounting Advisory
“Way too often we do what we’re comfortable with. And we get so comfortable that we stop thinking about ways to use technology, the ways to leverage our staff, then we just say, “Well, we’ve always done it that way.””
Episode Transcript
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Episode Highlights
Trapeze and Chyla’s philosophy of business success (2:51)
A starting place for breaking down the intimidation of talking about financials (4:15)
Understand and preventing fraud in our organizations (6:17)
Key steps to building a sound infrastructure at your organization (10:00)
Common financial mistakes nonprofits make and how to avoid them (13:50)
Chyla’s One Good Thing: Utilize an App Blocker. (16:15)
Powerful quotes
“I think as nonprofit leaders, we recognize or some organizations recognize, I know I know a thing. I need other people who are those other people who are going to keep me safe.” -Chyla
“I do think there is something to what you're saying here about the stigma that's around having these tough conversations and being brave enough to talk about the elephant in the room. And I think you people are very intimidated. And I'm raising my hand is one of them. As somebody who's intimidated by the ops world.” -Becky
“I think we all recognize we don't know what we don't know, try to see what are the resources in your area that can say, please point me, what is the topic I should start with?” -Chyla
“The key steps are thinking about what are your biggest worries, and the biggest ways that you operate? So we want to know how does money come into the organization?” -Chyla
“So that's the first piece to me is just documenting what is actually happening and then looking at it from a from the perspective of risk.” -Chyla
“I try to remind people that it's not just about protecting the organization, you want to protect the reputation of the people there.” -Chyla
“So you have board members, you have staff ask them what they've seen other places, just because they haven't been the one in the accounting role doesn't mean they don't have a perspective on it. They might have interacted with their accounting person at the other department, another place.” -Chyla
“I like to tell people give it three months before you try to make another change. If it's your reports, or the way you process things, just give it some time.” -Chyla
“Way too often is we do what we're comfortable with. And we get so comfortable that we stop thinking about ways to use technology, the ways to leverage our staff, then we just say, "Well, we've always done it that way." -Chyla
Building a Sound Infrastructure
Document what is happening, and look at it from the perspective of risk.
Get other people’s feedback.
Present roles, expectations, and responsibilities to the board.
Put it into practice, and evaluate at 3 months.
Connect with Chyla
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