Board members: Stay alert for these 4 financial red flags

Your board members are undoubtedly well aware of your nonprofit’s financial problems during the COVID-19 pandemic. But as 2021 unwinds, the board should keep its eyes on potential problem spots, ask questions and direct remedies as needed. These four areas can present clues that the organization is headed for trouble. 1. Financial statement flaws. Late,…

Board of Directors: Financial Literacy is Key

Your board is responsible for reviewing your nonprofit’s financial results so it can make sound decisions. But not every board member arrives at your organization with a financial background. Here are some suggestions for relaying some of the most vital information they need to know. Communicating the balance sheet A statement of financial position shows…