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To properly fulfill their fiduciary duties, your not-for-profit\u2019s board needs certain information. And it\u2019s up to the executive director and managers to ensure they have it. This doesn\u2019t mean you have to share every internal email, memo or phone message. Board members are busy and you don\u2019t want to bog them down with superfluous reading material. However, there are several types of information you must share so that they can make informed decisions.<\/p>\n
Financial data and filings<\/strong><\/p>\n The first is financial information. To fully understand your nonprofit\u2019s position, the board must receive copies of your Form 990. The board president or treasurer should review this document and approve it before it\u2019s filed.<\/p>\n The board also must get the results of any audit you\u2019ve conducted, salary information for key staff and monthly and quarterly financial reports showing income and expenses. If your organization provides directors and officers insurance, provide proof to board members.<\/p>\n Strategic reports<\/strong><\/p>\n Strategic information includes reports on your nonprofit\u2019s work, such as how programs are being carried out and how they\u2019re used, progress on event timelines, and membership statistics. If your organization collects information from the audience it serves through formal or informal means, provide at least an executive summary of your findings to your board.<\/p>\n Occasionally sharing with the board articles that relate to your nonprofit\u2019s mission, locations or audiences also may be useful.<\/p>\n Board member info<\/strong><\/p>\n To help foster teamwork and commitment to the cause, ask that members share brief bios and other relevant background information. Also publicly share thank-yous when board members make special efforts \u2014 whether those efforts are individual (such as securing an event sponsor) or group (performing due diligence on a new executive director).<\/p>\n How do you know whether a piece of information should be shared with your board? Ultimately, if it\u2019s something that will help them serve your nonprofit, it\u2019s something you should share.<\/p>\n \u00a9 2019<\/em><\/p>\n <\/body> To properly fulfill their fiduciary duties, your not-for-profit\u2019s board needs certain information. And it\u2019s up to the executive director and managers to ensure they have it. This doesn\u2019t mean you have to share every internal email, memo or phone message. Board members are busy and you don\u2019t want to bog them down with superfluous reading […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-14217","post","type-post","status-publish","format-standard","hentry","category-not-for-profit"],"_links":{"self":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts\/14217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/comments?post=14217"}],"version-history":[{"count":0,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts\/14217\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/media?parent=14217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/categories?post=14217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/tags?post=14217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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