19 Jul

Closing 101

By: Christina Mencuccini, MBA MHA  – Susan G. Komen Arizona  (Closing July 31, 2017)

Out of all my MBA classes, I do not recall one discussion, assignment or even case study teaching me how to close a business gracefully. Analyzing failed brands and destitute business models led to a solid perspective and financial examination; but never once did we explore the complexity and complications that come with closing a business. Apparently, that class is only taught in real life.

I’ve experienced two closures in my lifetime, one as an impressionable teenager of our family business and the now, the second as a seasoned executive for one of the most meaningful causes in the country.

My father and his siblings closed our family business in the 1980’s. As the youngest of the cousins with a recent high school graduate, I was focused on anything but running a family supermarket chain and yet, the news was devastating to me. Mencuccini’s supermarkets were in business for nearly 70 years and were iconic for the many butchers, bakers, and others whose entire careers were lived out in the stores.

For me, the stores represented my first job and a huge part of my childhood identity.

My grandfather began this American Dream shortly after signing in at Ellis Island in 1911. When he passed away, I learned about the meaningful impact of our family business – stories of feeding people during the Depression, employing people with little or no education, supporting other local business, and generally being a cornerstone of community were revealed over and over. When I visit the town to this day, someone will recognize the name and tell me a story of their first job, a family member retiring, or a fond memory of my family.

Today I now know the importance of learning not only how to build a business, but how to close one as well. As we wind down #KomenAZ operations, I am moved by the many stories of survival and hope from people whose lives we have touched. I can appreciate the multi-generational impact our organization has made over the last 25 years.

There are no limits to the impact a business can make in one person’s life.

Two articles in the Harvard Business ReviewClosing a Business Gracefully and Shutting Down your Business Gracefully render interesting points to consider if ever faced with the decision to end an operation. Still, I believe that closing a business is not best taught in a primer or a classroom, but only in life.

#ThankyouArizona http://thankyouarizona.com/   (ONE:  Site featuring lots of pertinent information and details on the closing process)  

ONE will miss long-time Member – Susan G. Komen Arizona

03 Feb

Notes from Oct 19th ONE Luncheon – What Nonprofits Need to Know about Wage & Hour Law

Presenter:  Attorney Denise Blommel

Notes by:  Anne O’Malley Edelstein – Arizona Academic Decathlon

1/3 of workers are contingent workers

Who is a 1099 and who is a w-2 employee?

3 years in minimum wage records available for audits

As of December 1st, 2016 – Exempt salary min.

Overtime pay was instituted to try and increase employment rather than pay overtime.

Minimum wage in AZ is $8.05

FLSA – Overtime

    • 40 work hours per week
    • Can keep a peerson on salary but you can pay overtime.
    • Breaks and meals – one break has to be given only to nursing mom for 1 year per Federal law
    • No breaks required by AZ law – non exempt employees
    • Outside of agriculturural work – no one under 14 years old
    • An employee can bring a civil action suit against an employer

White collar exemptions:

    • Executive, administrative, professional
    • Computer professional is the only one who can be hourly –  all others must me on salary

Salary docking – for an exempt employee can prorate  for the 1st day of work and the last day of work

Safe Harbor – policy must be included in employee handbook

Jan 1st, 2020 – $913 week goes up by the cost of living

Non wage – bonus, commissions, sick pay, vacation pay, certain benefits not included in the $8.05/hour or the $913/week

Industries – exempt from FLSA

    • Amusement park if seasonal
    • Others

Employers – $500,000 revenue threshold

09 Aug

How I Built My Board

by Tom Egan  – FSL

In my previous two positions I found myself in need of rebuilding the Board of Directors, and I feel I was successful in both endeavors. I was recently asked, how did you build your board? My answer lead to this blog post.

I start by working with my existing board to determine what the ideal board would look like. Then we collectively determine what our expectations of board members will be. We create criteria for all board members, and develop a Board of Director job description.  We identify the industries, companies, or skills that we would like to have on our board then set a goal for a number of new board members to be recruited.

I have found that Phoenix is a really big small town, so if you reach out to a few key people and or entities you can get help in building your board of directors. Below is a list that I have found to be incredibly helpful to me in my board building efforts.

Valley Leadership’s LeaderLink: Online platform aimed at building the capacity of the nonprofit sector by connecting trained, engaged volunteer leaders with agencies seeking board members.

Hispanic Leadership Institute: promotes the individual development of Hispanics for increased participation in leadership roles and serves as a principal education and networking resource for expertise and advocacy on leadership issues affecting Latino communities.

Black Board of Directors Project: an advanced leadership program, was started in Phoenix in 1984 to fill the void of Blacks and others on various on corporate, charitable and public policy-making boards and commissions at the local, state and national levels and other leadership positions.

Asian Corporate & Entrepreneur Leaders (ACEL): is a non-profit organization providing Asian American professionals across the Phoenix metropolitan area opportunities to work together to enhance Asian American leadership in our careers, communities and the local government that we live and serve in.

The Manifesto Project: The program encourages organizations to reserve a “shadow” position on their Board of Directors, executive committee, or subcommittee for a high potential young professional who has been matched to their organization or identified internally. Individuals selected will receive high quality board and professional development training through the Manifesto Project’s community partners, be assigned a mentor within the host organization, and serve a 1-year, non-voting term where they will gain invaluable high-level strategic experience in their chosen sector.

State Bar of Arizona: The State Bar of Arizona is a non-profit organization that operates under the supervision of the Arizona Supreme Court. The Bar regulates approximately 18,250 active attorneys and provides education and development programs for the legal profession and the public. The Bar and its members are committed to serving the public by making sure the voices of all people in Arizona are heard in our justice system. There are specialty Bar associations for groups such as: Women, Hispanic, Asian, Young Lawyers, etc.

Trade Associations: There is probably a trade association for whatever profession you are searching for. At my last job, I was searching for a board member with Public Health experience, I was introduced to the American Public Health Association and found a member with this experience.

Community Relations Liaisons: If you are looking for a board member from a specific company, make sure it is their corporate culture to place members of their staff on boards, does your organization’s mission match their philanthropic interests? If so, reach out to their Community Relations staff, share you criteria for board members and see if they are open to a meeting.