It is important to ensure that your board members are aware of their roles and responsibilities as you design it. Keep all board members informed to avoid confusion and make sure your organization is in compliance to state and local laws! This can be accomplished by forming committees within your board. These committees of board members work together to concentrate on different aspects of your organization, like fundraising or human resources. This group of volunteers can help your board stay focused and on track!
Your board’s primary responsibility is to oversee and support the chief executive. This includes ensuring your nonprofit adheres to ethical and legal standards. It also includes the oversight of financials, setting budgets and overseeing fundraising initiatives. Additionally the board is responsible for selecting and evaluating new board members.
The board of your nonprofit has another important task to consider: deciding on the purpose of your organization. It may appear to be a simple task but it’s crucial to be focused on your mission to avoid mission creep as time passes and to draw donors to your non-profit. Your board should be able assist you in determining the most effective methods of achieving your goals as well as develop new programs and services that help you achieve your goals.
Finally, your nonprofit board is responsible for being aware of all IRS and state regulations that your company must comply with. This is why it is especially important that your board is aware and is committed to their fiduciary responsibility to protect the organization. This can be accomplished by regularly holding meetings to review policies.