Nonprofit, Uncategorized

Nonprofit Board Members – What You Need to Know!

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 Egan

Carol O. Egan, CPA, PSA, CGMA
Director, Accounting & Auditing Services Group
Cg Tax, Audit & Advisory
732-676-4073 |