In this episode, CJ is joined by Kelly Mahncke, the CFO of USA Hockey, and the first CFO of a nonprofit to come on the show. They discuss the organization's business model and its revenue streams. Kelly emphasizes the importance of having a successful business whether it’s a nonprofit or not, and what she means when she says that there's no mission without margin. The conversation also covers USA Hockey's efforts to balance grassroots development with elite programs, the role of data and technology in enhancing operations, and the challenges of making hockey accessible to underprivileged communities. Kelly shares insights into the financial management of USA Hockey, including the for-profit and nonprofit aspects of the business, and how the four-year cadence of the Winter Olympics affects annual planning.
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TIMESTAMPS:
(00:00) Preview and Intro
(02:00) Sponsor – Tropic | RightRev | Planful
(06:23) The Companies Under the USA Hockey Umbrella
(07:50) Balancing Investing in Grassroots Development and Elite Teams
(10:01) USA Hockey’s Revenue Streams
(11:14) USA Hockey’s Data and IT
(13:07) Learnings from USA Hockey’s Data and Analytics
(16:38) Sponsor – Brex | Vanta
(19:10) Why Kids Should Try Different Sports
(20:03) Anecdotes About Hockey Players
(21:56) No Mission Without Margin
(23:40) The Most Surprising Line Items in USA Hockey’s Budget
(24:32) How the Winter Olympics Affects Annual Planning
(26:12) For-Profit Money in the Space
(29:14) The Business of Rink Ownership
(32:54) Making Hockey Accessible to Underprivileged Communities
(35:30) The For-Profit and Nonprofit Aspects of USA Hockey
(36:56) How Being a Nonprofit Impacts Hiring and Volunteers
(39:31) Lightning Round: Advice to Younger Self
(40:04) Technology at USA Hockey
(41:30) Finance Software Stack
(42:20) The Legacy Kelly Hopes to Leave
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