When forming your nonprofit’s board, make sure that all of your board members understand their roles and responsibilities. Keep all board members informed to avoid confusion, and also ensure that your organization is in compliance with state and local laws! This can be done by forming committees within your board. These boards work together to concentrate their attention on various aspects of the organization, including human resource management or fundraising. By having a group of volunteers focused on these topics helps keep your board organized and on the right track!
The primary responsibility of your board is to provide support and oversight to the chief executive. This includes ensuring your nonprofit follows legal and ethical standards, providing financial oversight and establishing budgets, and overseeing fundraising efforts. Your board is also accountable for selecting new board members and reviewing them.
Another crucial duty of your nonprofit board is to determine the purpose of your organization. This seems like a simple task but it is important to to stay focused on your mission throughout the time to prevent mission creep and bring in donors to your nonprofit. Your board can help you decide the best way to achieve your goal and also develop new programs and service that can help you reach your goal.
Your board of directors for your nonprofit must be aware of all state and IRS requirements that your organization is required to comply with. This is where it is vital that your board understands and is committed to their fiduciary obligation to protect the organization. The best way to accomplish this is to have regular meetings, and to review policies.