Boards of directors have a fiduciary duty to ensure that the assets of a charitable nonprofit are used in accordance with donors’ intent, and in support of the charitable mission.
When tax-exempt charitable nonprofits earn income through an activity that is unrelated to their exempt purposes (such as activity that is commercial in nature, like sales of goods) and...
Understanding a nonprofit’s costs is necessary in order for charitable nonprofits to be financially sustainable.
Your nonprofit’s mission matters. And it costs something to deliver it!
Boards need up-to-date financial information so that they can make decisions with an understanding of the financial impact on the nonprofit.