The governing board of a not-for-profit (NFP) establishes the strategic objectives of the organization and oversees its management to carry out the organization’s mission. Along with this responsibility comes legal and ethical obligations to the NFP. An NFP’s governing body has liability for the NFP and, therefore, it is the final authority. No matter what the size of the organization, board members are expected to make reasonable and sound judgments when acting on behalf of the NFP. This CPE course provides an overview of procedures and policies which help maintain good governance and financial oversight by an NFP’s board.
▪ Distinguish between the functional areas of an NFP;
▪ Recall the basic responsibilities of NFP board members; and
▪ Recognize policies related to good governance.
▪ NFP structure
▪ Principles of good governance
▪ Legal compliance
▪ Duty of care
▪ Duty of loyalty
▪ Duty of obedience
▪ Policies and procedures
▪ Effective governance
▪ Governing boards
▪ Governance practices
▪ Board responsibilities
▪ Financial oversight
CPAs and financial professionals working with or serving on NFP boards and NFP board members.