Fiduciary Duties for Nonprofit Boards

(from CLA) Nonprofit boards have ultimate legal responsibility and authority for the organization, but board effectiveness can vary widely — and understanding the board's role and duties can help improve a nonprofit’s outcomes. Consider how these practices can help your nonprofit board maintain its fiduciary duty.

• Create strong governance policies and structure including ethics policies
• Consider board job descriptions and evaluations
• Capture board meeting minutes
• Define and maintain operational policies and procedures
• Prioritize budget adoption
• Reflect on annual financial statement and compliance audits
• Develop strong internal controls
• Focus on strategic planning

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