FOR IMMEDIATE RELEASE
877-504-0954, ext. 1
April 23, 2012
New Orleans, Louisiana
The Louisiana Association of Nonprofit Organizations hosted a leadership seminar, The Lessons of Hull House: Avoiding Failure Through Financial Leadership on April 23, 2012. Erica McGeachy Crenshaw, CEO of Execute Now! and Dr. Keith H. Liederman, CEO of Kingsley House spoke to an audience of primarily Executive Directors.
Mrs. Erica Crenshaw, with her 16+ years of experience in finance, explained why the Jane Addams Hull House collapsed.
She spoke of lessons learned from Hull House:
- Lack of Leadership Stability
- Lack of Urgency (form mergers or partnerships)
- Lack of Financial Performance Monitoring
- Revenue Imbalance - 85% of total revenue from government funds
She further expounded by saying, "the crux of the issue came from the lack of good, honest and timely financial information." She went on to explain the difference between an audit and finance committee, and why it's important to have both.....
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