This morning Susan and I discussed non-profits and 501(c) 3 organizations. She is on the Board (Treasurer) of Emmaus and is also acting as a part time CFO for the Civic Garden Center. We were discussing the necessity of tax returns (990's) and external audits. I mentioned that churches have different rules - but didn't know the specifics. In fact when I was the Chair of Finance at Armstrong Methodist we had no external audit.
I remarked that Susan is a great Board member on Emmaus - as a Board member and Treasurer the money increases vs decreases. It reminds me of P.F. of SVP Cincinnati's quote to me about the role of a Board member - G-G-G "Give, Get or Get Off". When I mentioned this in a breakout session at the International Social Venture Partner Convention in Long Beach last year, the facilitator rebutted - I prefer W-W-W for describing Board members - "Work, Wealth and Wisdom".
Lately I have come to some conclusions that non-profits have weak (VERY WEAK) boards. Alan Proctor highlights this in his book "Linking Mission to Money". He was an excellent speaker to our SVP Partner group and we need to have him come back to Cincinnati and speak again.
So make sure one of the W's on your Board is not WEAK!!!! - Otherwise use the G - Get them off!