1. June 9, 2017 Morgan Lewis, Palo Alto
HBSA/NC Board Meeting
June 9, 2017
Morgan Lewis, Palo Alto
Leadership Appreciation Dinner, April 27, 2017

2. Board Action
Kristen Badgley

3. Rob Mishev & Lisa Friedman
Message from Outgoing Presidents
Rob Mishev & Lisa Friedman

4. Harvard Business School Association of Northern California 2016-2017 Club Strategic Initiatives
Organizational Health: Ensure Club is setup for long-term success with focus on integrated Club Leadership, CLT succession planning, and appropriate technology platform.
Engagement: Significantly increase alumni engagement across classes, with focus on most recent classes, geographies, interest areas, and volunteering.
Revenue Growth: Really blow out strategic thinking on increasing & diversify revenue through sponsorships, events and dinners
   
Goals for 2016/17:
Seamless transitions of Co-Pres/CLT into 2017/18
Increase paid membership total by 25%
Increase event attendance by 20%
Achieve 60% events/20% sponsorship/ 20% membership revenue mix (ideal 50/30/20)

5. Harvard Business School Association of Northern California Q3/Q4 2016 Summary
Org Health: 
+ Onboarding incoming president (Jan)
+ Hired addition admin help
-/+ Tech platform is impeding Club operations and performance; Team is piloting Hivebrite
Need help to recruit VP Volunteers for volunteer recruiting & engagement
Engagement:
+ Strong portfolio of events across alumni groups (60 HBSA/NC initiated programs – at least 13 sellouts; $88k in revenue through the end of April; 1100 registrations through imodules; 600 unique)
+ CLT engagement high: Recent adds (VP Marketing, VP Tech, and VP Programs) doing great!
-Membership is down due to tech challenge and need for more marketing/nurturing and better timing of renewals
Revenue Growth: Increase revenue through diversification: sponsorships, events and dinners.
+ On track for best revenue year ever due to strong BLD. Secured Sal Kahn for next BLD
+ New membership tiers are taking hold and revenue is being generated
+ Hiring partnership consultant to help kick start efforts and focus on driving significant revenue (still need help from BOD); in close process with finalist
- eDinner brought in less revenue than expected but good attendance. Consider not having next year.
- Did not close as many Sponsorships as we had hoped
   

6. Message from Incoming President
Jan Gullett

7. Organizational Approach Move toward Model Like NYC
Board of Directors
C Suite - Leadership Team
Revenue Chair & Committee
Secretary
President & CEO
Chief Financial Officer
Chief Operating Officer
Executive Director
Business Leader Dinner
Chair & Committee
Audit
Overall Leadership
Team, Strategy
Core Programs
VP, Program(s)
Prog.Committee
Corporate Sponsorships
Nomination & Governance
Alliances & Independent Programs
Community Partners,
Start-Up Partners
Athletics,
Finance Breakfasts & Luncheons
Event Support
Entrepreneur Dinner
Chair & Committee
HBS Relations
Visiting Professors
Global Networking
Westrek
Strategy & Positioning
Communication
& Website
Dinner Support
(Event Manager)
Marketing
Online Media
Membership
Support
Membership
New Program
Assessment & Development
Administration, Accounting Support
Recruiting
Technology
Notes:
The President would be the principal officer liaison with the Chief Financial Officer.
Board Committees including Nominations, Revenue, Strategy and Audit would advise officers and address issues of policy while delegating operating decisions to the key officers (President, COO, CRO, ED & VPs).
The COO would chair the CLT team with backup from the President & ED while the President would provide any needed coordination or oversight of Independent Programs.
Board would take the lead on Dinner Fund Raising, the ED with Support would take the lead on Corporate Sponsorship for the club while dedicated program fundraising and donations would be encouraged.

8. Organizational Approach Appointments & Potential Additions
Chief Operating Officer
Pat Kelly
Chief Financial Officer
Conrad Herrmann
Chair, Entrepreneurship
Phil Rettger
Potential Additional Program Officer Recruits
Young Grads, Social Responsibility, Exec. Ed., Career Development, Health Care, Civic Affairs, Harvard Club, Other Business & Ivies.
Development & Succession
SVPs
Strengthening Officer Ranks is a key objective.

9. Initial Strategy & Objectives
Strengthen Officer Ranks
Volunteers
Structural Enhancement
Individual Development
Improve Teamwork
Add Focus to Organizational Roles
Target Improved Operational Teamwork & Execution
Improve Processes, Technology & Mobilize New Recruits
Stabilize Membership
Focus on first years
Increase Member Engagement
Perhaps 20% Improvement
Broaden Inclusiveness
Non-member Alumni, Angels, Alliances, South Geography

10. Break for Lunch (12:05 – 12:15 pm)

11. 2017 Cloudflare E-dinner Summary and Key Takeaways
Dileepan Siva* & Brandy Spier*

13. Financial Report Conrad Hermann

14. Financial Update (through 4/30/17)
Club Remains Financially Healthy
Cash Balance Close to $200 K Higher Than Last Year at Same Time ($552 K at 4/30/17)
Laddered CD’s Providing Small Income Source
Net Income Through 4/30/17 = + $270.9 K
Initial Read on E-Dinner = Net of + $60.5 K
Program Income Through 4/30/17 = + $17.2 K
E-Dinner was a Success - Great End to the Year (Thanks, Dileepan - and Brandy & Mairin!)

15. Role of Treasurer “CFO” of the organization
“Single Source of Truth” for financial numbers
Maintains financial records
Controls financial risks of the organization
Budget from Dinner Committee Chairs
Kept in the loop on all matters related to the numbers
Steward, Operator, Catalyst, Strategist (Deloitte)

16. Initiatives Close out Financials for FY ’16/’17
Plan to Take More Active Role as CFO/Treasurer
Ensure There Are Finely Functioning Procedures to Maintain Health of HBSA/NC
Begin Process of Benchmarking Financial Metrics to Other Clubs, including Staffing Analysis
Confirm Consistency of Employment Contracts
Explore Conducting a Financial Review/Audit
Ensure Revenue Share Model on BLD is Viable and Financially Sound

17. Historical Financials
Net Contributions
Expenses
Net Income (loss)
Scholarships
Assets

19. Harvard Business School Association of Northern CaliforniTREASURER’S UPDATE
June 9, 2017
HBSA/NC Reserves
Total Assets as of 4/30/ $552.3
Net Assets (6/30/16) $296.3
Plus net gains - projected
Less CP Scholarships x ( )
Projected Net Assets FYE $599.6
Reserves
Net Assets (04/30/17) $552.3
Operating Fund (1/2 yr fixed exp) ( )
Operating Reserve (1 yr fixed exp) (196.5)
Credit Card Collateral ( )
Scholarship Endowment (5x) ( )
Excess Reserves $288.0
Projections
Net Income – Budgeted ($16 K)
Revenue windfalls
BLD success $265 K ED
Programs
Membership
Higher G&A ($17.8)
Supplemental Items (CP, SUP) ( 21.5)
 ____________________________________________________
Net Gain - Projected $328.7
Update
Club remains very healthy
Thru 4/30, $255 K ahead of budget on Net Income
Cash Balance Almost $200 K Ahead of Last Year (at $552 K as of 4/30)
Action Items
Close out Fin’ls for ’16/’17
Ensure continued success of BLD - rev. share model
Cultivate Corp. Sponsors
Invest in SUP
Net Contributions
Expenses
Scholarships
Net Income (loss)

20. Club Recruiting Updates & Introductions
Phil Rettger & Mairin Macaluso

21. 2017 Business Leader Dinner Plan Keith Giarman / Kristen Badgley

22. Club Leadership Conference Highlights
Pat Kelly

24. Best Practices: Club Financial Processes

25. Treasurer’s Check List
D&O Insurance
Report to Board, President and Exec Dir
Pay the bills – procedures and policies
Budget – create and monitor
Cash Management – got money?
Tax Filings & Compliance 501c3
Contracts
Maintain records, back-up, do audits
When I started
What were my goals
Treasure role
-protect the Board
-protect the funds
-make role turnkey and transparent
-so I could find replacement
find replacement

26. President Board Treasurer
Treasurer’s Routines
Executive Director
President
Run the
club
Board
Pay
the bills
Oversight
HBSA/NC is a large club
Bookkeeper
Treasurer

27. No one person handles transaction
Executive Director
Bookkeeper
Treasurer
Pay the bills
Executive Director requests payments
Bookkeeper records deposits generates checks reconciles accounts
Treasurer signs checks
reviews transactions reports
Segregation of duties
Someone approves, someone cuts check someone signs check
Person writing the check can’t also be
I recommend three people
No one person handles transaction
from start to finish

28. Run the Club President Treasurer Executive Director
President sets agenda
Executive Director executes plan
Treasurer maintains budget

29. Report to Board Board Treasurer President Board approves budget
President recommends budget, executes within guidelines
Treasurer reports on financials, reserves, projections, areas of concern

30. Treasurer’s Calendar Event Action July August September October
FY BEGINS
Budget set
August
Board Offsite
Report to Board
September
Start tax filing
October
Board Meeting
Gala Dinner
Contracts, tax letters
November
Tax Filings Due
CPA files
December
January
Start budget process
February
D&O Renews
March
Present Draft Budget
April
May
June
Budget Approved
Treasurer’s Calendar
These are major duties—outward facing
Monthly
-Work with Executive Director and President
-review transactions, reconciliations
-Contracts, major expenses
Before Board meetings
-prepare financial statement
-Prepare financial dashboard
Tickler

31. Key Takeaways Set up Checklist and Calendar
Set up segregation of duties
Maintain transparency
Job is easier
Oversight is easier
Transitions are easier
Keeps honest people honest
Internal controls limits errors, fraud and hacking

32. Guru Parab* / Rob / Mairin
Technology Plan
Guru Parab* / Rob / Mairin

33. Recap
Board approved $25,000 (+/- 5%) investment in new technology platform at the March Meeting
At that meeting the Technology Team also shared that Hivebrite rose to the top of options considered
Timeline was put forth for preceeding with deeper evaluation of Hivebrite

34. Timeline Timing Item Status Comments April
Check Hivebrite Customer References
In process
Pending additional references
Demo Hivebrite to Club Officers
Club officers have been invited to demo
Negotiate Trial to run in paraellel with Imodules
Complete
Running “free” trial now – paid trial is next step
Discuss plan with NYC Club
They have selected Digital Cheetah and are just beginning design phase
Inform HBS of our plan
As part of the data access agreement, we will need to share the Hivebrite contract
May
Trial in parallel with imodules
Will need to shift to “paid” trial
Engagement with other HBS Clubs around Hivebrite
Participated in discussions around technology solution at CLC
Negotiate with HBS to cover some costs
Pending
We are planning to do this in parallel with NYC
Sept
Migrate to Hivebrite
TBD
We were originally targeting August. Timing to be based on results from paid trial
Complete Club Dashboard
Currently working with Microsoft Power BI

35. New Technology Solution
Items in bold appear to be Hivebrite Strengths
Objectives
Requirements
Web Content Management System
Member Validation & Management System
Event Planning & Management incl mobile app & social media integration
Digital Marketing System
File Storage & Sharing
Alumni directory
Groups for board / leadership and alumni to communicate
Integrated Data Management & Reporting*
API access for 3rd Party App integrations
Business Workflow Automation Software
Fundraising
Supply the necessary information our administration and Club leaders need to run the organization*
Reduce friction for members & site users
Improve member engagement
Affordable cost (time and resources)
Flexible future safe solution
*Integration with Microsoft Power BI and/or Google Analytics

36. Updates on Tech from CLC
Open discussion around alternatives to imodules
Also, a lot of marketing from the Clubs Team on why to stick with imodules
Stability
Cost
Still a lot of happiness among the Clubs around the difficulty of using imodules
No sign of promised reporting function and admission that HBS does not have much leverage over the imodules roadmap

37. Technology Appendix 

38. Data Management and Reporting
Club360 View: integrating data from several sources
iModules(historical)
hivebrite(new platform)
Payment (square, manual check entries, etc.)
Social media engagement data
Survey Monkey data
Google Analytics (click stream)
Archived data
Future apps (event attendance)

39. Microsoft Power BI – Option A
For second year in row, Microsoft is placed furthest in vision within the Leaders quadrant.
hivebrite stores it data on MS Azure. Reporting on Azure needs no data movement
Pricing for Pro: 9.99/user/month
Pay as you use data retrieval: $0.10/hr to $2/hr
Deep discounts for non profits (via techsoup.org)

40. Google Data Studio – Option B
Considerably new tool - beta release.
Supports only Google data sources: hivebrite data needs to be moved periodically from MS Azure to Google.
Future pricing is not clear: ‘Data Studio’ is currently offered free in its beta release, but ‘Data Studio 360’ is a costly suite of Marketing services.
Non profit discounts are not clear, yet.
Need to evaluate Google Apps for Nonprofits pricing.
Additional price for storing and retrieving data.
Lack of clarity on product maturity and pricing.

41. Additional Business / Wrap Up
Kristen

42. 2017 – 2018 Board Meeting Schedule – see handout
Next meeting is Annual Offsite on Saturday, Sept. 9, 2017 (SF location)

43. Adjourn
Thank you!