What types of financial information should be routinely provided to board members?
The board is ultimately responsible for all aspects of the institution or organization. While the board meetings would be too long to provide every line of the bookkeeping and finance news, depending on the size of the organization, any major changes that will affect the assets should be shared. Board members don't want any surprises and yet they trust the people that have the responsibility to care for the accounting to be professional with their ...
Differences and similarities between for-profit and nonprofit boards are offered, as well as areas that boards need to see, when it comes to financial objectives, management and capital.