Month 3: Module 3a
March 26, 2021
BASIC INFRASTRUCTURE – TIER 1 Excellence in Action
Schedule:
- 9:00 AM – 4:00 PM: Instructional time
Course Description:
Intro to Board Governance:
The strength of a nonprofit’s Board of Directors is a key determinant of the organization’s long-term success. Yet, there is often a lack of clarity of the Board’s role and the rotation of Board member terms. Key topics covered in this session include:
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- Board Member Responsibilities and Legal Duties
- Diversity on Boards
- Board Recruitment
- Board Composition Best Practices
Intro to Financial Management and Budgets:
Often the most technically challenging aspect of nonprofit management, it is crucial that all Board and staff members have a grasp of the organization’s financial practices, plans, and status. This module helps interpret the language and disentangle the numbers. The information provided in this module is intended to give you an overview of nonprofit financial management. Key topics include:
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- Terms
- Internal Controls
- Budgeting
- The Board’s Role in Nonprofit Financial Management
NOTE: This session is NOT intended to take the place of the expertise & guidance of your organization’s CPA (volunteer or paid). Access to the expertise & guidance of a CPA is a minimum standard for all nonprofits.
Intro to Fundraising:
Nonprofit donations are an opportunity for individuals and institutions to contribute to a cause of their choosing. But with that gift comes an obligation for the nonprofit to ensure its proper handling. In this session, you will learn:
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- Key Concepts
- Code of Ethics
- The Board’s Role in Fundraising
- Federal, State, and Local Laws for Fundraising
- Donor Relations
Learning Objectives:
Board Development:
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- List board member responsibilities & legal obligations including leadership, policy-making, budget approval, and fundraising.
- Discuss the importance of including diverse board members that represent the community served.
- Describe board member recruitment including how to engage board members and capitalize on their skill sets and resources to advance the organization.
- Identify how the board should adhere to the following best practices/legal requirements of: board size, officers, term limits, orientation, attendance, meetings & minutes, code of ethics, review of board performance, and compensation.
Financial Management/Budgeting:
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- Understand assets, liabilities, revenues, and expenses and the accounting equation.
- Learn and understand the difference between cash and accrual accounting and the impact on your financials.
- Discuss FASB Statements of Financial Position (formerly called Balance Sheet), Activities, & Cash Flow.
- Review the concepts of internal accounting/financial controls.
- List the steps in the budget process.
- Describe the recommended best practices for board roles and responsibilities of the organization’s finances including adoption of written financial procedures to monitor major expenses.
Fundraising:
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- List the key concepts related to annual campaigns, capital campaigns, planned giving, and the pyramid of giving.
- Explain why the Association of Fundraising Professionals’ Code of Ethical Principles and Standards of Professional Conduct is widely accepted as the national standard in nonprofit fundraising.
- Describe the recommended best practices for the board in fundraising.
- Discuss the federal, state, and local laws concerning fundraising practices and the registration of professional fundraisers/companies registered with the MS Secretary of State.
- Discuss the elements of donor relations: donor communications, donor intent, guidelines described in the IRS Publication 1771 concerning donor charitable contributions, and gift acceptance policies.
- Describe the recommended best practices for board roles and responsibilities of the organization’s finances including adoption of written financial procedures to monitor major expenses.