Nonprofit Skills and trade;: Financial Oversight for Board Members

This course will provide you with tips and tools to provide proper financial oversight of your nonprofit. It describes the financial roles and responsibilities of board members and provides an overview of the documents found in a nonprofit's financial report. You will learn how to identify and analyze key information in a nonprofit statement of financial position, statement of activities, and statement of cash flow and will get an overview of the process for developing and approving a nonprofit budget.

Learning Outcomes:

Explain the role of the board in providing proper financial oversight

Identify and describe the documents and financial statements included in a nonprofit organization's financial report

Explain the role of different types of financial committees

Analyze the information found in a nonprofit statement of financial position, statement of activities, and statement of cash flows

Describe the process for developing and approving a nonprofit's budget

Explain how board members make decisions regarding compensation

Apply key financial indicators to assess a nonprofit's financial health

Describe policies and procedures to maintain financial transparency and prevent fraud

Describe the requirements for filing a nonprofit's Form 990

Explain key aspects of a nonprofit audit and describe the role of the board in overseeing audits

Credits:IACET CEUs: 0.3 (Contact Hours: 3 hours)HRCI Credits: 3 (Type: General)SHRM PDCs: 3

Estimated time to complete: 3 hours