Tag Archives: responsibilities of nonprofit boards

Many tax-exempt organizations must file information returns by May 15

The following article was published by the IRS. The Internal Revenue Service reminded certain tax-exempt organizations that the Tuesday, May 15 filing deadline for Form 990-series information returns is fast approaching. Form 990-series information returns and notices are normally due … Continue reading

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Enhance the Organization’s Public Standing – 10th of 10 Responsibilities of Nonprofit Boards

Board members are a nonprofit organization’s ambassadors and advocates. Together with management, the board must communicate the story of the organization and contribute to a healthy public image of the organization. They play an important role in representing the organization to … Continue reading

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Ensure Legal and Ethical Integrity – 9th of 10 Responsibilities of Nonprofit Boards

One important role of nonprofit boards is to ensure legal and ethical integrity. This includes compliance, transparency, and accountability. Compliance means adhering to the regulations of local, state, and national governments to maintain public trust in the organization. This includes … Continue reading

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Protect Assets and Provide Financial Oversight – 7th of 10 Responsibilities of Nonprofit Boards

Holding organizational funds “in trust” is a very important board function. Fiduciary responsibility requires that a nonprofit board work hand in hand with the CEO to do the following four things: 1) Review and approve how the organization budgets, spends, … Continue reading

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Ensure Adequate Financial Resources – 6th of 10 Responsibilities of Nonprofit Boards

An organization can be effective only if it has enough financial resources to meet its purposes and advance its mission. For most nonprofits, balancing the budget has two dimensions: 1) finding dependable revenue streams, and 2) raising money. Boards can … Continue reading

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Monitor and Strengthen Programs and Services – 5th of 10 Responsibilities of Nonprofit Boards

What an organization does for its members, constituents, or clients helps determine its significance. Accordingly, it’s important that a nonprofit board monitor the organization’s programs and services for impact. Effectiveness could be determined by number of clients served, or number … Continue reading

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Ensure Effective Planning – 4th of 10 Responsibilities of Nonprofit Boards

Nonprofit boards are also tasked with ensuring effective planning. Through the planning process, they translate the organization’s mission into goals and objectives. These goals become the benchmarks for assessing the organization’s progress over time. The type of planning that should … Continue reading

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