Serving on a nonprofit board of directors is a great way to get involved in an organization with a cause you are passionate about. Board service is an important aspect to a nonprofit. Being a board member is a rewarding and fulfilling accomplishment, but it doesn’t come without a significant amount of commitment – time, knowledge and resources.
Questions you should ask yourself and current board members
- Are you ready for the full responsibility of being a board member?
- What are your duties and responsibilities of being a board member?
As a board member, you will be called upon to lend your expertise, establish strategic goals and provide guidance to achieve its mission. A nonprofit’s mission answers the question, “Who are we?” All of this comes with some legal and ethical obligations.
Basic objectives of board members
- Determine the nonprofit’s mission and purpose
- Set objectives
- Implement programs and activities
- Provide your expertise
- Determine policies and procedures in alignment with the mission
- Ensure compliance with Federal and state laws and regulations
- Uphold fiduciary responsibilities
Nonprofit board legal responsibilities
- Act in a prudent manner
- Put the nonprofit’s needs above and before its own
- Be faithful to the nonprofit’s mission
In additional to the above, a board member always has a fiduciary responsibility to act in the best interest of the nonprofit organization.
Carol O. Egan, CPA, PSA, CGMA
Director, Accounting & Auditing Services Group
Cg Tax, Audit & Advisory
732-676-4073 | cegan@cgteam.com