msight global inc. is a governance consultancy focused on the not-for-profit sector. This sector makes up a considerable portion of Canada’s economy. According to Imagine Canada, the charitable and not-for-profit sector contributes an average of 8.1% of total Canadian GDP, more than the retail trade industry and close to the value of the mining, oil and gas extraction industry. The sector employs about 2 million Canadians and relies on some 13 million volunteers. This sector makes a significant contribution to the social well being of Canadians.
The not-for-profit sector faces many challenges from a governance perspective, which puts the sustainability of this sector at risk. Consequently, Canadian society is put at risk.
We understand that governing a not-for-profit organization can be a balancing act. The issues and constraints that not-for-profit organizations face, and the challenges that boards of directors encounter while ensuring a robust oversight system, are many. Typical hurdles include: a misunderstanding of the directors' roles and responsibilities, inadequate succession planning and too much effort spent on operations and not enough on oversight and strategy. There is also a tendency for directors to be lured across the 'oversight' line into operations, thereby creating conflicts and disenfranchising management and staff. We call this crossing the 'bright yellow line'.
There is a direct link between good governance and sustainability. We work with not-for-profit organizations to help them build the right structure, to design and implement effective systems & processes, and to develop robust policies & procedures. In this way, organizations can advance their performance and effectively carry out their mission.
...IT'S ABOUT ACHIEVING BALANCE.
Richard Monk is President & CEO of msight global inc. He has long standing experience in the not-for-profit sector, both as an advisor to and member of various boards of directors.
Richard is a Chartered Director, a Chartered Professional Accountant and a Fellow of the Chartered Professional Accountants of Ontario.
As an experienced professional, he provides consulting and advisory services in governance to the not-for-profit sector. He has worked with industry associations, professional organizations, arts & cultural entities, community and charitable organizations. He has delivered workshops and training sessions on the roles and responsibilities of boards of directors and enhancing governance effectiveness, and has been a guest speaker for professional development sessions, government, banking bodies and private sector groups.
In addition to being a Chartered Professional Accountant and Chartered Director, Richard is a Certified Management Consultant, a Certified Fraud Examiner, Audit Committee Certified through the Directors College, and a member of the Institute of Corporate Directors.