Nonprofit boards carry a variety of duties. They can act as the legal governing board of the organization. They also have the ability to ensure that the company is operating in accordance with local and nonprofit boards role state laws as well as improve the exterior and internal operations, and maintain financial accountability. A nonprofit board must have members with diverse experiences and backgrounds to meet the various tasks.
Board members are also responsible for fundraising for the organization. This could involve reaching out to their own networks of potential donor and/or the nonprofit’s list of previous donors to keep asking for donations. This may be uncomfortable at first, but is an excellent method to improve your fundraising abilities.
Additionally, the board might appoint committees to concentrate on specific responsibilities such as fundraising and budget management. Typically, the chairperson acts as the direct contact for the executive director. The treasurer is required to be knowledgeable about the accounting and bookkeeping aspects of the organization and readily available to offer information and advice to make informed financial decisions. The secretary must record exact and precise minutes of all meetings.
The board members of non-profit organizations are also accountable to review all tax documents, including the IRS Forms for 990 before they are submitted each year. They must be aware of all tax regulations and requirements for the organization. In addition, the board could be required to examine and approve agreements, contracts, or other documents relevant to the mission of the organization.