When you are establishing your nonprofit board, you want to ensure that all the members are aware of their roles and responsibility. In keeping all board members in the know will reduce confusion and ensure that your organization is in compliance with laws at the state and local levels! This can be accomplished by creating committees within your board. These groups of board members work together to concentrate on different aspects of your organization, including fundraising or human resources. This group of volunteers will help keep your board focused and on track!
Your board’s main responsibility is to support and oversee the chief executive. This includes ensuring your nonprofit adheres to ethical and legal standards. This also includes the oversight of financials, setting budgets and overseeing fundraising efforts. Your board is also responsible for selecting new board members and reviewing them.
Another important task for your board of directors is to decide the mission of your organization. This may seem like a straightforward task, but it is crucial to to stay focussed on the mission over time to avoid mission creep and bring in donors to your nonprofit. Your board of directors should be able to assist you in determining the most effective ways to accomplish your mission in addition to developing new programs and services to accomplish your goal.
Finally, your nonprofit board is responsible for being aware of all IRS and state regulations that your organization must adhere to. This is where it is especially important that your board is aware of and abides by their fiduciary responsibility to protect the organization. This can be done by holding regular meetings to review policies.