Nonprofit boards play an important role in the work of an organization. They are responsible for governing, promote, and oversee the mission, vision, and values of a non-profit. They also have to make decisions that ensure the sustainability of the organization. The board has a responsibility to safeguard the company from financial ruin and ensure that the public trusts the organization.
Another important responsibility that nonprofit boards are charged with is www.twoboardroom.com/guide-to-managing-virtual-board-meetings/ oversight in legal matters. This includes ensuring that the nonprofit is following local federal, state, and local laws. It also involves the submission and renewal of paperwork to appropriate government agencies (in the US that would be the IRS).
The board of directors is responsible for determine the policies that govern the way in which the organization functions. This includes a range of things, including the manner in which employees are managed, how donor/supporter information is handled and how fundraising activities are carried out.
The board is also accountable for the creation of budgets and adherence to them. This includes establishing shorter- and longer-term strategic plans in collaboration with the executive director, the entire staff, and other key stakeholders.
It is essential that the board members all understand their roles and responsibilities in order for the organization to be successful. Your nonprofit is prone to mismanagement and micromanagement without a good understanding. It is vital to educate new Board Members on the role of boards before they are appointed.
