VERO BEACH — Financial management is an important key to a healthy and sustainable nonprofit organization. To be effective, board members must know the basics: what questions to ask, what the IRS requires, and how to read financial information.
Most important, they need to understand the warning signs of a nonprofit in trouble. The Indian River Community Foundation is hosting “Financial Responsibilities and Expectations for Nonprofit Boards,” from 8-11:30 a.m. on Mon., March 11, at Northern Trust, 755 Beachland Blvd. in Vero Beach.
The workshop, led by certified public accountants and partners from McGladrey, Clay Worden, and Debra Lockwood, is specifically designed to help volunteer board members understand their legal responsibilities and roles in providing financial oversight.
“It’s not uncommon for an individual to be asked to join a nonprofit board, but then given no training in the nuances of nonprofit financial oversight. There are distinct differences from the for-profit world, and this workshop will give board members some practical guidance on the key issues,” said Kerry Bartlett, Executive Director of the Indian River Community Foundation.
The workshop will focus on legal responsibilities of board members: how to read financial statements such as the Form 990 and financial audits, how to detect and prevent fraud, and how to use financial information in responsible fundraising.
“The purpose is to empower board members to be effective in their roles and give them the skills they need to lead their organizations for the ultimate benefit of our community,” Bartlett said.
Nonprofit executive directors are encouraged to attend with their board members.
Registration is $35 per person or $25 per person for three or more registrants from the same nonprofit organization. Advance registration is required by March 7 and can be made at www.IRCommunityFoundation.com.
The Indian River Community Foundation is a neutral, non-profit organization dedicated to improving the community through donor driven philanthropy.
For more information, please call (772) 492-1407.
