When Finance Professionals Serve The Greater Good

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Trish Shannon, CFO of the AARP Foundation, discusses how finance professionals can make a difference in the wider world as well as in their own organizations.

Despite having to suspend our in-person program services, AARP Foundation quickly identified ways to serve our target population remotely. As early as April of 2020, we launched an Emergency Food Box program that delivered more than 3.4 million meals to seniors across the nation. Instead of our annual in-person meal pack on the National Mall, more than 7,000 volunteers working at home bought and packed nearly 1 million servings of food for older adults in the Washington, D.C. region.

By analyzing the various options and offering an independent assessment of the situation, the finance team plays a very important role in making these decisions – not only from a budget perspective but also through its ability to offer integrated and strategic considerations. Internally, as an affiliate of AARP, we rely on AARP for many shared services like technology, human resources, general counsel, etc. Several years ago, AARP transitioned to a Workforce of the Future, which allowed all staff the capability to work remotely. Consequently, we were able to transition rather seamlessly to working remotely full-time in March 2020.We put a financial contingency plan in place in case there were liquidity or revenue concerns.

The successful CFO must be committed to the organization’s mission and to maintaining the public’s trust. The CFO works across the organization to identify any potential risks or gaps in our strategic plan and ensures we’re adequately resourced to achieve our goals. The CFO must be proactive in finding solutions that contribute to the future sustainability of the organization and its ability to achieve its mission.

 

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