Finance 101: 5 steps for non-profit organisations to educate and empower trustees
Sturdy monetary governance is an significant aspect of operating an productive non-financial gain organisation (NPO) or charity.
A great deal obligation lies with trustees, people who have a crucial, demanding (and usually unpaid) role in governing an NPO and directing how it is managed and run.
Trustees make confident all decisions place the wants of the beneficiaries to start with. If they are unsuccessful to meet their obligations, they can be held individually liable.
In this article, we protect a sequence of ways so you can demonstrate your NPO’s finances to your trustees, so they can fulfil their job of signing off accounts.
Here’s what we go over:
Comprehending fiscal responsibilities as a trustee
How to aid your trustees fully grasp your financials
Final ideas: Assist your trustees
Trustee responsibilities
The Charity Commission lists six obligations of trustees:
- Guarantee your organisation is carrying out its reasons for the