Financial Management

The board and staff responsibilities chart is meant to help guide nonprofit board and staff as they determine who’s involved in various activities of governing and managing the organization. You may adapt to fit your organization's needs.

A calculation by Independent Sector estimated the national value of volunteers' contributed time to be $28.54 per hour in 2021, thus helping to acknowledge the millions of individuals who dedicate their time, talents, and energy to making a difference. Charitable organizations can use this state-specific estimator to quantify the enormous value volunteers provide to their organizations.

When an organization seriously considers dissolving – whether voluntarily or involuntarily – it’s a difficult and complex process. Nonprofit Dissolution: What to Do When Closing the Doors (Nonprofit Quarterly) outlines the steps and tasks involved in dissolving a nonprofit with honor and integrity.

Does your organization have a process for establishing chief executive compensation? The CEO Compensation Checklist from BoardSource outlines 11 key items to consider when creating a compensation plan to help your organization recruit and retain the best possible chief executive.

Even the most organized and responsible nonprofit board needs to document its activities, internal rules, and processes. BoardSource's infographic, Must-Have Board Documents, outlines the documents to which your board needs to pay attention.

Do your responsibilities include accounting or fundraising (also known as development or fund development) for your nonprofit? Do you supervise the development and accounting work? These are two critical functions and successful collaboration between them is essential to every nonprofit’s success.

The Tax Cuts & Jobs Act, signed into law by the President on December 22, 2017. This resource hightlights how the new federal tax law affects charitable nonprofits will be updated as additional information and guidance becomes available. (National Council of Nonprofits)

Every nonprofit board member is legally responsible for the financial oversight of the organization he or she serves. BoardSource's Welcome to Your Key Financial Statements: A Primer for Nonprofit Board Members guide for boards of directors introduces the two most important financial documents - the balance sheet and income statement - that help board members meet their fiduciary responsibilities.

David Heinen, Vice President for Public Policy and Advocacy, North Carolina Center for Nonprofits

On December 22, 2017, President Donald Trump signed into law a tax reform plan (H.R. 1) that cuts individual and corporate income tax rates and makes a variety of other changes to the Internal Revenue Code. Several parts of the tax plan affect the work of nonprofits.

Standard Mileage Rates (en español) posted by the IRS each year summarize "the optional standard mileage rates for employees, self-employed individuals, or other taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes."