Financial Literacy for Nonprofit Board Members

The key to good fiscal stewardship is to ensure the board is financially literate – that is, that it has realistic financial achievement expectations, appropriate oversight, and knowledge of accounting standards and reporting. You need to know if your organization is on solid footing – gaining or losing ground. This session is designed to help you, as a nonprofit board member, understand:

· The unique financial structure of your nonprofit

· The board’s role in financial accountability and its fiduciary responsibility

· How to read and interpret financial statements, as well as recognize red flags in financial statements

· Basic financial analyses of balance sheets, income expense reports, accounting practices, and audits

· Compliance issues your organization is obligated to meet related to financial regulatory reporting, particularly the Form 990, 990T, unrelated business income, and rules on restricted/unrestricted funds

About the Presenter:

Jonathan Miller is a Partner at The Bonadio Group. As a partner with the firm’s Healthcare/Tax Exempt Team, Jonathan’s primary role is to oversee financial statement audits of his team’s clients. He is involved in a variety of consulting engagements, including financial due diligence and forecasting, project management and advisory services, operational audits, business planning, and board governance. Jonathan also has a passion for giving back to the community and serves on several boards.

Host or Publisher Center for Nonprofit Leadership at St. John Fisher University