Serving on a nonprofit board is a wonderful way to improve our world and can provide some benefits to you. As a financial professional, you have so much to offer not-for-profit companies. This course is for those new to not-for-profit boards and provides insights to those with nonprofit board experience.

This course covers the duties of a financial professional as a board member. I'll start with the benefits you provide to a nonprofit board and what your board experience may offer to you. You’ll learn the key questions to ask and the important documents to review before joining a board. I'll list the three duties of all board members. We'll also explore the personal liability risks of joining a board and some risks the organization faces. You'll learn some ways to mitigate these risks.

The second half of the course goes deeper into nonprofit financial oversight. We'll look at the financial policies that boards use to guide their organizations. I'll explain how nonprofit financial statements differ from for-profit statements and how financial management is also different. We'll look at the duties of the finance committee and the audit committee, as well as the types of nonprofit audits and examinations. I thought a great way to end a course on tax-exempt organizations is with a lesson on tax compliance. Ironic, isn't it?

This course is tailored to financial professionals, which includes:

• Accountants and CPAs
• Financial analysts
• Financial planners
• Investment analysts
• Anyone who has managed finances at a company

This course focuses on the financial governance, risk management, and compliance aspects of board service. It does not go into the details of accounting for nonprofits, completing tax forms, audit procedures, etc. There are many good courses by others that cover this.

The author has worked for multiple nonprofits, including as CFO and SVP of Finance. He has also served on multiple nonprofit boards.

Course Key Concepts: Board of Directors, Nonprofit, Not-for-profit, Tax exempt, Form 990, Single Audit, Yellow Book, Finance Committee, Audit Committee.

Note: This course is also available in Text-Based format:
Nonprofit Board Service for Financial Professionals (Text Based Course)