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

Leveraging Internal Audit Techniques to Improve Efficiency

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Audit & Assurance12/06/2017

Enterprise Risk Management12/06/2017

Insights12/06/2017

Internal Control12/06/2017

Nonprofit finance teams are under constant pressure to deliver timely information, insightful business analysis, and organizational stewardship. In today’s world, finance teams are expected to fulfill these tasks faster and with fewer resources.  The tools and techniques employed by internal auditors can be of great assistance in generating organizational efficiencies while improving controls and data […]

Membership Dues Under Attack? A New Tax Reform Twist

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Exempt Organization Tax12/06/2017

Insights12/06/2017

Dear Clients and Friends,
The American Society of Association Executives (ASAE) has identified a provision in the tax reform legislation that may serve to eliminate the deductibility of association/society dues as a business expense. Naturally, this could have a dramatic impact on the affordability of membership dues.
Jim Clarke, ASAE’s Senior Vice President of Public Policy, has […]

Coming Soon? A New 5 Year Reapplication Requirement for DC Tax Exemptions

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Exempt Organization Tax12/01/2017

By: Eric Owens, Tax Senior
Exempt organizations with offices in the District of Columbia, take note! You soon will need to reapply for exemption every 5 years, according to the DC Office of Tax and Revenue (OTR). This reapplication process is slated to apply not only to the DC franchise tax exemption, but also to the […]

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