A membership organization pays a hefty price after handing over too much control to its management company.
Olivia Munro, a hospital chief financial officer (CFO) and former pharmacist, was approached about the treasurer position with her state's pharmacy organization, which was experiencing sustainability issues. The organization's finances and membership numbers were in decline, and the board was struggling to lead through these challenging times. Out of a sense of professional obligation, she agreed to serve in the role. Never having served on a professional board, Munro did not know what to expect.