Responsibilities of Your Nonprofit Board
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When you establish your nonprofit’s board, you must ensure that all of your board members understand their duties and obligations. Making sure that all board members up to date will reduce confusion and ensure that your organization is in compliance with the laws at both state and local levels! This can be accomplished by creating committees within your board. These boards work together to focus their attention on various aspects of the organization, including fundraising or human resource management. By having a group of volunteers focusing on these areas it will help keep your board well-organized and on track!
The primary responsibility of your board is to provide support and oversight to the chief executive. This involves ensuring that your non-profit adheres to legal and ethical standards. It also involves overseeing financial matters, establishing budgets, and overseeing fundraising efforts. Additionally your board is responsible to select and evaluate new board members.
Another important duty of your nonprofit board is to determine the mission of your organization. It may seem like a straightforward task but it’s vital to be focused on your mission to keep your mission from becoming a distraction over time and to draw donors to you non-profit. Your board will help you decide the best method to fulfill your goal and develop new programs and service that meet your objectives.
Your nonprofit board is responsible for knowing all of the IRS and state regulations that your organization must adhere to. This is why it’s crucial that your board is aware of and abides by their fiduciary duty to protect the organization. This can be accomplished by holding regular meetings to review policies.