The internal control system needs to be documented (the expected results or outcomes of the system and what everyone does need to be put in writing) and constantly evaluated. A con
From time to time, Organizations may face the prospect of an endowment going underwater, it may become especially relevant in uncertain economic times as markets fluctuate.
One of the most frustrating internal control processes for accountants and auditors alike is the dreaded company credit card and employee expense reimbursements. You might be thinking, let’s
State laws determine the minimum size for nonprofit boards. In most states it is three. However, the number varies so you should be familiar with your state statutes.
Very often, the first board is made of friends of the founder or is a group of similarly-thinking individuals who are interested in and committed to the mission of the organization.
Every nonprofit corporation needs a board. To be able to enjoy the various benefits of a nonprofit status, the organization needs a board that stands for the organization.
Every founder needs to determine his or her role within the organization. Probably the most difficult thing to realize is that you will not be the owner of the organization.
Every organization has a mission. For for-profits, it is to create profit for the owners or shareholders. In the nonprofit sector there are just about as many missions as there are organizations.
