by Ron Mattocks
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Product Description
Written by Ron Mattocks, Zone of Insolvency shines a bright and urgent light on the real issue of creating financial strength across the whole spectrum of nonprofit organizations. This insightful book uniquely shows you how to rise above "business as usual" with workable solutions to launch your organization out of the Zone of Insolvency and into financial viability.
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Average Customer Review:
2 of 2 people found the following review helpful:
Sandwiched Between Solvency and Total Insolvency, 2008-06-01
Recently, the CNBC "American Greed" TV series launched with a memorable episode that wounded and embarrassed nonprofits (Harvard, Penn State, and dozens of evangelical ministries) a decade ago. "The Con Man" was John Bennett. CNBC reported, "Some said he was a visionary and a godsend. His New Era Philanthropy foundation doled out $100 million nationwide. Was it too good to be true?"
Yes. Could it have been avoided? Maybe. Will it happen again? It's not likely if you follow the well-researched and documented counsel in Ron Mattock's new book. "The Zone of Insolvency," writes Mattocks, "is a period of corporate financial distress, sandwiched between solvency and total insolvency."
Mattocks puts a spotlight on the alarming number--up to 450,000--of nonprofits that are operating under financial distress, the Zone of Insolvency, and how the courts have expanded board member legal responsibilities and liabilities in these cases. It's fascinating and scary reading. He gives key lessons from the success and failure stories of 10 organizations, including: United Way of America, New Era Philanthropy, Baptist Foundation of Arizona, American Red Cross, and others. The book is organized into four parts: perspective, naming the disease, symptoms and the cure.
You'll get hooked reading the first 10 chapters (10 nonprofits in trouble) and you'll be comforted with his practical suggestions for executives and board members. He includes sample board policies for avoiding or escaping the Zone of Insolvency--and every chapter concludes with "Five Great Questions for Your Next Board Meeting."
The author says every board must ask itself, "Do we exercise a healthy dose of skepticism in carrying out our fiduciary responsibilities?" And how about this one: "If we decided today to close this organization, would we complete the close-down with net assets remaining, or net liability?"
This important book expands on the themes in my Board Bucket and Budget Bucket, two of the 20 buckets in my book, Mastering The Management Buckets: 20 Critical Competencies for Leading Your Business or Non-profit. Caution! Some board members may get cold feet and resign from your board after reading The Zone of Insolvency. That's not necessarily a bad thing.
2 of 2 people found the following review helpful:
A lot of great Information in one book, 2008-05-20
The book is logically laid out and well indexed. The author sets the scene by briefly taking the reader through case studies of ten non-profit organizations who dealt with challenges to the solvency of the enterprise. He identifies the responsibilities of each organization's board of directors and how each either fell short or rose to the occasion.
Each chapter is presented in a bite size format, coming quickly to the main teaching point and facilitating a quick return to any portion for further thought and future reference. A check list is provided at the close of the chapter to drive home the key points and enable their customization and/or application to your particular area of responsibility.
After a thorough portrayal of the various pitfalls a non-profit can and frequently does face, the final section presents various cure scenarios covering the analysis and assessment of a non-profit structure. These include a discussion of courses of action that will, first, prevent/avoid failure (insolvency); second, enable the honest assessment of the situation to recognize that failure (bankruptcy) is possible or even probable and third, in the worst case, guide the dissolution of the organization with no further or minimal damage to its distributed assets.
This is a very valuable work that can serve as an excellent textbook and discussion guide in both academic and business seminar environments and as a desk-side reference for all who serve in any oversight capacity for a non-profit enterprise.
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