This podcast is targeted at board members that wish to learn more about their fiscal responsibilities as a leader of a nonprofit organization. We go over the basics of the financial statements, defining key terms and showing some key areas that the board members should become familiar with. We discuss important metrics and break down the meaning of what auditors should present to an audit committee or board. Once the board members have a better understanding of financial statements we will take them through they key sections of the Form 990 and give an overview on what the IRS is looking for and what risk areas there may be. We also discuss the important questions that the form asks related to governance and how the board members can be sure their organization is practicing proper governance.
Jill Boyle & Wendy Mallo