At Tate & Tryon, a firm focusing exclusively on nonprofit finance, we encounter highly motivated board members, but sadly, many dedicated board members don’t fully understand their responsibilities, particularly when it comes to financial governance.

The Antonin Scalia Law School at George Mason University, in partnership with Heidrick & Struggles, has recently released an excellent report exploring how the role of association and nonprofit board members has evolved and what motivates board members to participate.

Here are a few points to focus on if you’re looking to better engage your board:

  • Many boards have yet to institute a formal onboarding process
  • The mission of an organization is the greatest motivation
  • Board service requires more time and effort than ever before

In addition to distinguishing board oversight from day-to-day management, onboarding should also cover a financial orientation focused on educating boards on key drivers of success. How else can a board truly serve its purpose? Getting behind the mission of the organization is the first step, but a structured orientation is a necessary second.

Don’t assume that new board members come with built-in knowledge of how to be an effective board member.   Help provide them with the training and education they need, so that they can help make the board more productive, effective and maximize their service for your organization.

Tate & Tryon can assist your organization with improving financial governance practices and enhancing board effectiveness.  Please contact us to learn more.

Click here to view the full report by Heidricks & Struggle and the Antonin Scalia Law School at George Mason University.

 

INSIGHTS & RESOURCES

Where Should Your Nonprofit Be Taking a Second Look?

Posted on , updated on

Advisory Services07/11/2018

Audit & Assurance07/11/2018

Fraud Prevention07/11/2018

Insights07/11/2018

Internal Control07/11/2018

Outsourced Accounting Services07/11/2018

Uncategorized07/11/2018

Check out “10 Things Keeping Internal Audit Up at Night,” so you know where you should be taking a Second Look. Don’t hesitate to contact Tate & Tryon’s Outsourced Internal Audit experts to develop a plan that’s right for you. Outsourced Internal Audit Services for nonprofits is a cost-effective way to safeguard […]

Make Sure You Know the Right Moves! Grant and Contribution Accounting

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Audit & Assurance06/28/2018

Firm News06/28/2018

Insights06/28/2018

Uncategorized06/28/2018

The Right Moves for Grant and Contribution Accounting.  FASB ASU 2018-08 Topic 958 Clarification on Contributions Received and Made.
Have you ever been out on the dance floor, and as the music starts to play… you pause – Swing or Latin? Salsa or Rumba? And then you realize you’re not sure how to tell which dance you […]

The Nonprofit CFO Awards Recognition of Excellence in Finance & Leadership

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Firm News06/27/2018

Insights06/27/2018

Uncategorized06/27/2018

Checkout this Nonprofit CFO Awards Video that Highlights the Nomination Process and Provides Insights on Nonprofit CFO Excellence.
Behind the scenes of any successful nonprofit organization is the nonprofit CFO. Forging through changing financial landscapes, deciphering new regulations, and holding back budget overruns, the Nonprofit CFO does it all.  No longer are CFOs mere number crunchers and […]

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