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Key Financial Questions Your Board Should Ask

Home ACTIONKey Financial Questions Your Board Should Ask

Key Financial Questions Your Board Should Ask

December 9, 2022 Posted by Michele Colopy ACTION, DEVELOPMENT, EDUCATION, LEADERSHIP


• Have we run a gain or loss? (i.e., Are we better or worse off financially than we were a year ago?)
• Are our key sources of income rising or falling? If they are falling, what are we doing?
• Are our key expenses, especially salary and benefits, under control?
• Do we have sufficient reserves?
• Has the board adopted a formal policy for the establishment of reserves? Is our cash flow projected to be adequate?
• Are we regularly comparing our financial activity with what we have budgeted?
• Is our financial plan consistent with our strategic plan?
• Is our Board satisfied and productive?
• Are we filing on a timely basis all the reporting documents we are required to file?
• Are we fulfilling all of our legal obligations?
https://boardsource.org/resources/financial-fundraising-issues-faqs/

Tags: key finance questions for every Board
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About Michele Colopy

Michele Colopy, LEAD Co-Founder, holds a Master’s degree in Nonprofit Management/Arts Administration. She has more than twenty years of nonprofit experience at the national, state, and local level. She has worked with membership associations, pollinator advocacy, performing arts, housing and homelessness, foreclosure prevention, community development, and health and wellness. She was Treasurer of a State Association from 2016-2019 modernizing the accounting, co-managing a USDA grant, administering the Affiliate program, and managing two grant programs. She was the Program Director of a national pollinator advocacy NGO 2013-2019.

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  • Home
  • Leadership
    • Board of Directors
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  • Education
    • Blog
    • Educational Presentations
    • Log-In To Learn Recorded Webinars
    • Special Event Planning
    • Publications
    • Videos, Handouts, etc.
    • K-12 Student Resources
  • Action
    • MASSQuito Coalition
    • Akron Noxious Weed Ordinance
    • Akron, Ohio Environmental Justice Coalition
      • White Pond Wetlands (Akron, Ohio)
        • Wetlands- Take Action Through Education & Advocacy
        • SAMPLE Letters and Topic Area (updated often)
        • Wetlands Information
        • Development Guidance To Sustain Wetlands
        • White Pond Wetlands News Stories
        • White Pond Wetlands Background Documents
        • Photos of Activity To White Pond Wetlands
    • Reporting Damage or Loss From Pesticides
  • Development
    • Pollinator Habitat
  • Contact Us Today
  • Donate
    • Donation Affiliations
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