Governance

To avoid or diminish financial and accounting risks that might threaten the organization’s existence or decrease its effectiveness, the board needs to be aware of proper financial processes and pra

There is no federal law that prohibits nonprofits from compensating their board members but some states may forbid compensation for board service.

One of the most constructive and proactive ways a board can send a message that its organization is committed to accountability, responsiveness, and stewardship is to draft a code of ethics to guid

What is conflict of interest?

A conflict of interest arises when a board or a staff member is in a situation where his decision making may be impaired by personal, financial, or other busin

Directors and Officers (D&O) liability insurance is an extension of all the other protection mechanisms for board members and the organization.

The board must ensure adequate resources to allow the organization to carry on its mandate. Financial resources feed into the health and stability of the organization.

The purpose of the general liability insurance is to pay for damages that the organization is liable for and to cover legal costs for its defense.

As you work with confidential financial data and personal information performing your daily business tasks, follow these straightforward guidelines to help maintain information security and be a mo

By incorporating your nonprofit you create a legal entity whose primary function is to provide limited personal liability protection to those managing the organization.

Board members must realize they have personal expectations and responsibilities for their board service.

To protect the organization, itself, and its members, the board must start by following the legal obligations common to all boards: duty of care, duty of loyalty, and duty of obedience.

Nonprofits spend a lot of time and energy reviewing financial data.