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When the AG Calls, Where are Your Minutes?

By Ann G. Macfarlane When the attorney general calls your office and asks about a board decision, could you find your minutes quickly? You, gentle reader, may think this will never happen to you. You may not even have imagined that it could happen to you. But members of nonprofit boards are beholden to the state in which they are incorporated. As a director or officer, you have a duty to ensure that your organization conducts its affairs properly. The record of those affairs is—the meeting min...

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Evaluating Complex Funding Sources

During tough economic times, an increasing number of not-for-profit boards may feel pressured to accept various types of funding sources in order to meet their fundraising objectives, a number of which may lead to accounting complexities, donor management issues, and other unforeseen costs. Knowing what to expect before your organization pursues more complex funding sources can limit your exposure to unnecessary financial and operational difficulties. Below is an overview of the most common type...

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Monitoring: An Integral Component of Internal Control

In response to the increased emphasis placed on internal controls, not-for-profit organizations have been working diligently to document and improve their internal control systems. Although, for many, this has taken a great deal of time - the investment is well worth the effort for a number of reasons. Most notably, good internal control is good business. It helps organizations ensure that operating, financial and compliance objectives are met. The consequences of not meeting these core objectiv...

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