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1 + 1 = 3: Helping Your Board with Its Fiduciary Responsibility

Posted by Kathy Finley, CAE on Feb 28, 2018 8:00:00 AM

When most board members see an organization’s financial statements, their eyes glaze over. However, one of the major duties of a board is a fiduciary one. According to Jeremy Barlow in his blog, “Non-Profit Legal Responsibilities,” on Board Effect (August 12, 2016), a “non-profit board oversees the organization’s assets and makes sure that the non-profit is on sound financial footing.” This is part of the board’s duty of care, and should not be taken lightly.

How many times have we heard that an organization has been defrauded because the leaders are unaware of the finances of the organization, or that the organization is close to closing because it doesn’t have enough funds to operate (a situation probably ongoing for years)?

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Topics: Board of Directors, Leadership, Association Executives, Association Management, Nonprofit Boards, strategy, tips, Finance

Stanford Survey: The Good, Bad and Ugly of Nonprofit Boards

Posted by Leslie Murphy, FASAE, CAE on Jul 29, 2015 12:00:00 PM

As someone who has collaborated and consulted with hundreds of nonprofit board members over the years, I’ve had the privilege of working with some truly great ones.

But I’ve also encountered some who had trouble hitting their stride. It wasn’t that they didn’t care about their organization’s mission or their obligations as a board member—rather, they simply didn’t have access to the needed skills or experience to truly make an impact.

The Stanford University Graduate School of Business recently released its 2015 report summarizing survey data from 924 directors of nonprofit organizations. What does the data reveal? Most boards could make substantial improvements. Here are two key takeaways.

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Topics: Board of Directors, Leadership, Nonprofit Boards

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