Financial management tips and insights from Walter Hossli, Executive Director of Momentum, founding member of CCEDNet and one of the most experienced CED leaders in Canada.
BACKGROUND
For the past 20 years, Walter Hossli has been the driving force behind the Calgary CED organization Momentum. Momentum serves about 4,000 low-income Calgarians annually in 20 programs including, trades training, micro loans for business start-up, professional immigrants’ accreditation, financial literacy and matched savings programs.
But it wasn’t always this way. In 1991, Momentum had a budget of just over $300,000 and was caught in the project funding treadmill common to many CED groups. By learning to cost properly, diversifying funding sources, building surpluses and reserves and creating a strong organizational culture, Momentum’s annual revenues grew to over $5.2 million in 2010, with reserve funds of over $1.6 million.
In this session, Walter shares the lessons he’s learned over the last 20 years and tips on how strong financial management can catalyze organizational passion, performance and independence – and ultimately better results for communities.
SPEAKER
- Walter Hossli, Momentum
Walter has been Executive Director of Momentum since it was founded in 1991. Under his leadership, Momentum has won the Community Achievement Award from the City of Calgary, been recognized by the Tides Canada Foundation, by Charity Intelligence as one of the most effective organizations in Calgary and named one of Alberta's top 50 employers. Walter is a founding board member of CCEDNet, and he helped establish Vibrant Communities Calgary, an organization dedicated to fighting poverty.
ADDITIONAL RESOURCES
- Financial Management of CED Organizations by Walter Hossli, on Canadian Centre for Community Renewal
- An Executive Director’s Guide to Financial Leadership by Kate Barr and Jeanne Bell, on Nonprofit Quarterly
- How Much Should a Canadian Charity Spend on Overhead? By Mark Blumberg, Blumberg Segal LLP.
- The Nonprofit Starvation Cycle by Ann Goggins Gregory and Don Howard, on Stanford Social Innovation Review.
- The Operating Surplus: What’s Right for Your Organization? By Sandi Humphrey, on Canadian Society of Association Executives
- For more about Walter’s vision of community see, his talk at TEDx Calgary
- Get to know Momentum with their last Annual Report
