redfox
5-16-12, 11:15pm
Sheesh... I am tired of struggling nonrofits. What is the family of origin trip I am working out...?
The org I work for, a very small nonprofit, had been banking with the same rural bank since it's founding as a regional org some 15+ years ago, a bank in another state. It was a personal account! Last summer, I started the transiton to a business account with a national bank. It took 6 months to shift all the on-line accounts my predecessor had set up over... Ridiculous. I'll be closing half of those too, when I have a moment.
Each year we host a conference. It's ridiculously expensive. Last year, the five figure bill was put on a personal credit card of a former IT guy who has huge credit limits... He got plenty of airline miles out of the deal, and the cash flow for the confence was managed so that the bills could be paid after the event.
We have NO CREDIT as an organization (the recently acquired business credit card I finally managed to get has a $2500 limit...). Today I found out that the conference site denied our in-house credit app, so we owe the entire bill up front, before the conference, before all the ticket sales, the auction fundraiser, etc. 48K. We have 56K in the bank.
So, I called a former board member for a 10K loan to be able to meet payroll in June. Thank God she said yes. Is this effed up or what?!? I cannot believe we're doing this major event, which we spend 6 months preparing for, and spend over 100K, to make about 30K. It's a terrible business plan. I spent the day being really anxious over it all. Sooo sick of sketchy jobs.
The org I work for, a very small nonprofit, had been banking with the same rural bank since it's founding as a regional org some 15+ years ago, a bank in another state. It was a personal account! Last summer, I started the transiton to a business account with a national bank. It took 6 months to shift all the on-line accounts my predecessor had set up over... Ridiculous. I'll be closing half of those too, when I have a moment.
Each year we host a conference. It's ridiculously expensive. Last year, the five figure bill was put on a personal credit card of a former IT guy who has huge credit limits... He got plenty of airline miles out of the deal, and the cash flow for the confence was managed so that the bills could be paid after the event.
We have NO CREDIT as an organization (the recently acquired business credit card I finally managed to get has a $2500 limit...). Today I found out that the conference site denied our in-house credit app, so we owe the entire bill up front, before the conference, before all the ticket sales, the auction fundraiser, etc. 48K. We have 56K in the bank.
So, I called a former board member for a 10K loan to be able to meet payroll in June. Thank God she said yes. Is this effed up or what?!? I cannot believe we're doing this major event, which we spend 6 months preparing for, and spend over 100K, to make about 30K. It's a terrible business plan. I spent the day being really anxious over it all. Sooo sick of sketchy jobs.