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Board's prudent approach prevents ‘reactionary’ decision‐making
Publication year - 2015
Publication title -
board and administrator for administrators only
Language(s) - English
Resource type - Journals
eISSN - 1949-3215
pISSN - 1525-7878
DOI - 10.1002/ban.30026
Subject(s) - reactionary , revenue , business , on board , finance , public relations , marketing , political science , engineering , law , politics , aerospace engineering
A Colorado board prevented financial problems at its organization due to its strategic thinking about revenue sources. The board recognized the risk in having too many eggs in one basket, and planned accordingly. At a time when the organization received 96% of its revenue from one funder, the board asked staff to expand traditional fundraising at the organization and create a social enterprise. The board also boosted its own commitment to fundraising participation.