jessewinters

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Business Report: Coaching For Today’s Nonprofit CEO

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Sabrina Houser is the owner of Capital CFO in Saratoga Springs.

By Sabrina Hauser
The nonprofit world is filled with dedicated and passionate leaders and an organization’s CEO is no exception.
They exist and work in a demanding environment with constant challenges. The average nonprofit CEO spends between 60-70 hours of accountable time in a week, existing between the Board, directors and employees. This can be an isolated position, managing both upwards and down while driving the initiatives of the agency. Typically, the CEO lacks a right-hand person to co-manage with and often is called upon to make decisions alone, often in a vacuum. The mental load can be unnerving.
Coaching for today’s nonprofit CEO is a way for nonprofits to tap into an objective outside resource, who will guide the CEO in key administrative and strategic areas vital to the continued survival —and success—of an organization.
Finding and retaining an individual or company with expertise in the world of nonprofits is critical to the success of the coaching process. A coach will work with the CEO and her team to review and set strategies; develop action items and accountability; engage in motivating activities to support an agency’s employees, directors, board and donors; and build camaraderie between and among board members and support staff.
A coach can be a crucial resource for educating the CEO and team in best practices for attracting talent to your agency, as well as maintaining the expanding upon engagement with donors, supporters, and board members.

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Saratoga County Agreement With Verizon Brings Wireless Service To Four Rural Towns

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Saratoga County has entered into an agreement with Verizon Wireless to bring wireless communication services to four communities in the Adirondack Park near the Great Sacandaga Lake.
The expansion of Verizon Wireless services will provide access to wireless phone and high-speed data services to Verizon customers including residents, visitors and first responders.
“I am proud to announce the agreement between Verizon Wireless and the County of Saratoga to bring Verizon cellular and Internet access to the communities of Edinburg, Day, Hadley and Providence,” said Preston Allen, Saratoga County Board of Supervisors Chairman.
In the past year, Verizon worked with the Saratoga County Office of Emergency Services to develop new wireless facilities in northern Saratoga County targeting rural communities, roads and recreational areas along portions of Great Sacandaga Lake and Sacandaga River.
County Emergency Services Commissioner Carl Zeilman said Verizon Wireless has co-located communications equipment and an antenna on existing county-owned communication monopoles and towers in the towns of Providence, Edinburg, and Day. Construction to co-locate equipment on the county-owned monopole site in the Town of Luzerne in Warren County is set to begin shortly.
The 4G LTE Verizon wireless voice and data services, which are either new and significantly improved, will be expanded into these areas including several miles along County Route 4 (North Shore Road) and County Route 7 (South Shore Road), and into the Hamlets of Edinburg, Batchellerville, West Day, Day Center, Lake View and Hadley.

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Business Report: Protect Your Biggest Investment

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Michael Cruz is president of Lighthouse Advisors LLC in Queensbury.

By Michael Cruz
When working on annual planning, we often look at the company’s strengths and its weaknesses. Most often, I see “our people” as a strength. I often see “bench depth” as a weakness.
My advice always is to build on your strengths. Then, do what is reasonable to mitigate your weaknesses. There is one simple thing you can do to reduce that bench depth pain. Invest in the people you already have. We already know that it costs less to keep our customers than it does to acquire new ones.
The same is true about the people that work for you. Hiring is difficult, it is expensive, and it is not a 100 percent solution. Many years ago, I worked for a very fast-growing software company. When I joined it, the company’s sales were $18 million. When I left, seven years later, sales topped $450 million.
One of the most stunning attributes of that industry was that we were all fairly young and inexperienced. We were a young company and we were a young management team. We worked to figure out our weaknesses and we brought in experts to address them. And that personal growth kept me loyal to the company even when I was offered more money to leave.
I outlasted every person that joined the company when I did. Many others quit. When asked why I stayed, I said the growth afforded me opportunities. Remember, it is cheaper to keep customers.
It is also cheaper to keep customers than it is to replace them. The same is true of employees. They are harder to find than customers. They are hard to train. The whole process is expensive. You want to keep your better employees. And your better people want to stay. They want to grow with you.

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AARP Report Says 26 Percent Of Those Over 55 Are Victims Of Cyber Identity Fraud

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A report in November from AARP shows that 26 percent of Americans aged 55-plus have been victims of identity fraud, according to the organization.
However, more are taking additional precautions to prevent losses of personal information, as 29 percent have placed credit freezes on their credit bureau information following an identity theft incident. More than half have enrolled in identity protection or credit monitoring services, the report said.
The report, “Identity Fraud in Three Acts,” was developed by Javelin Strategy and Research and sponsored by AARP.
“Older Americans are leading more digitally infused lives, with two-thirds using online banking weekly, so it’s encouraging to see that many are taking proactive steps to protect their identity following a data breach,” said Kathy Stokes, director of AARP Fraud Prevention Programs. “Passwords still represent a security threat, however; using repeated passwords across multiple online accounts makes it easy for criminals to crack one of them so that all of your accounts, including financial accounts, become accessible.”
According to the report, consumers 55-plus want to bank using stronger security authentication. Roughly 90 percent state a desire to use more fingerprint scanning, and 80 percent view facial recognition capabilities as trustworthy forms of technology for financial transactions and private business matters.
The report also said identity fraud victims age 65-plus do not necessarily change how they shop, bank or pay following a fraudulent event, with 70 percent exhibiting reluctance to change familiar habits.

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Business Report: Nonprofit Economic Relief During COVID-19

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Matthew Young is a member of Bond Schoeneck and King PLLC.

By Matthew Young
Generosity is the lifeblood of a nonprofit organization. Donations can often sustain a charity for generations. But among the devastating impacts of COVID-19 on local communities this year is, unfortunately, the understandable decrease in charitable donations.
This has resulted in many nonprofit organizations experiencing unanticipated financial difficulties. In such times, organizations often look to their institutional funds for support.
Institutional funds, such as an endowment fund, typically consist of donations established either through a gift agreement or estate planning document, such as a will or trust. Donors are oftentimes interested in the long-term survival of the organization and want to ensure that the charitable services will be available to their communities for years to come.
For this reason, donors often place restrictions on access to the principal (original gift amount), only allowing the organization to access the income (interest) generated by the fund. Normally, this model can sustain a charitable organization, but it can be challenging during times of financial crisis.
Fortunately, New York law provides for a procedure under the doctrine of “cy pres,” which means at or near the donor’s intentions when they cannot be precisely followed. This doctrine allows an organization to modify or release donor restrictions placed on the use of charitable gifts (including gaining access to principal) to provide greater flexibility to weather difficult financial times. Two options are available when seeking cy pres relief.

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Malta Website Seeks To Promote ‘Great Things’ And Become Conduit For Business Investors

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Malta has a new website designed to highlight businesses and places of interest in the town, an outgrowth of the work of the town’s Economic Development Committee.
Courtesy Town of Malta

The Saratoga County Chamber of Commerce and the Town of Malta announced a new website to feature “all the great things” about the town.
The new web presence is targeted toward promoting the good things happening in Malta, officials said, while also serving as an economic development conduit for businesses considering investing in the town.
The new site, www.MaltaWorks.org, is an outgrowth of the work of the town’s Economic Development Committee. The committee last year launched the Malta Works promotional campaign to promote existing businesses and encourage investment from new businesses. Officials said the website is the next step in that project, providing a one-stop portal for anyone considering doing business in Malta.
The site will be administered and maintained by Chamber staff at no cost to the town.
“This new website is a great next step for our Malta Works campaign to show the world that Malta is a great place to do business,” said Malta Supervisor Darren O’Connor. “Our entire town government has worked tirelessly for several years to improve the business climate, while keeping our small town charm. This website is a great window into that effort and I hope businesses and investors find that for whatever their need, Malta Works.”
Building within the framework of the Chamber’s existing site, the Malta Works presence will benefit from the hundreds of thousands of unique views the Chamber website enjoys annually, boosting awareness of all the Town has to offer, he said.

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New Book By Brian Rollo Aims To Help People Accept And Acclimate To Leadership Roles

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Brian Rollo is a leadership coach and cultural business strategist in Queensbury.
Courtesy Brian Rollo

Andrea Harwood Palmer
Brian Rollo, a leadership coach and cultural business strategist, has published a new book, “The 10 Habits of Influential Leaders”.
“I wrote this as an actionable handbook for someone who is a people-manager struggling to get results,” said Rollo, who operates his consulting company out of Queensbury. “I highlight the top 10 things that help people-managers get better. Things people can do to get results from their team, and to make leading a team a little less miserable.”
“I tell the story of how I first became a manager, and really struggled in the beginning,” he said. “And I did a lot of research, reading over 50 white papers. I tried to be the channel to distill everything I learned throughout my career, and through extensive research.”
Rollo said the predominant struggle is that some people struggle to step into an authority role. “They may have the title, but they’re afraid to do anything because they don’t want to hurt anyone’s feelings,.”
Others grasp authority too hard. “They need everyone to know they’re the boss,” he said.
“Both approaches are a road to trouble,” said Rollo. “I address this in the book. It usually plays out in how people deal with conflict.”
“It’s easy to be the boss when everyone just says, ‘I agree, I’ll do whatever you say’. But most of the time it is not like that. In real life, there is frequently conflict. When you’re a team member, you can try to stay in your own world. When you’re a leader, you cannot just ignore it when your team is in conflict. You must be the one to step up and deal with it. If you’re uncomfortable with that, the conflict grows,” said Rollo.
Some managers are in their role through merit, some develop management skills through training, and some land in their position by default of being the only person available when the previous director leaves, he noted.

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Stewart’s Shops Holiday Match Campaign Is Underway To Raise Money For Nonprofits

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Stewart’s Shops is teaming up with its customers once again to raise money for local children’s charities through its Holiday Match campaign.
It kicked off on Thanksgiving Day and runs through Christmas Day at all shop locations.
“In these times, nonprofits need our help more than ever with increased strains on staffing, resources and budgets. We are proud to partner with our customers to help those who need it most”, said Stewart’s Shops President Gary Dake.
Last year, customers donated an incredible $895,000 to the program, doubling to more than $1.79 million with the Stewart’s match. The funds were able to support 1,830 local children’s organizations across the 31 counties where Stewart’s shops are located.
The program started 34 years ago.

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Arrow Financial Corp. Donates $75,000 To 20 Health And Human Service Organizations

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The Arrow Financial Corp. has committed $75,000 to 20 health and human service organizations in the area to show its “gratitude for their important work during these challenging times.”
As part of a Month of Thanks campaign, the Arrow group—which includes Glens Falls National Bank and Trust Co. and Saratoga National Bank and Trust Co.—is reaching out to community partners from Albany to Plattsburgh with the goal of supporting their efforts around food insecurity, child care, affordable housing, emergency assistance, mental health, domestic violence prevention, workforce development and youth services, according to a news release.
“As a community bank, we recognize the important work that our nonprofits perform to lift up our neighbors and get them through hard times,” said Arrow Financial Corp. President and CEO Thomas Murphy.

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