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
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
One of the legal obligations for board members is a duty of loyalty. One aspect of this duty expects board members to keep confidential issues confidential.
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
A gift acceptance policy explains an organization’s position on accepting both cash and non-cash gifts and outlines any prohibitions on the type of donor or donations to be accepted by the organiza
An endowment refers to a fund or funds that are generally kept permanently. Their interest income provides for the overall operations of 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.
Fiduciary obligations require charitable non-profit organizations to adhere to the highest ethical and legal standards. In every decision made and action taken, a charitable non-profit must:
A gift acceptance policy allows the board to define the parameters and guidelines for eliminating controversial or risky donations. Unwelcome donations might include gifts that:
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.
Indemnification is the organization’s direct expression of willingness to protect its board members (and its senior staff) from the financial burdens of liability.
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.
