The success of a nonprofit organization is dependent on the management of its board. The board is responsible for overseeing the mission of the organization and must adhere to legal and ethical standards when they oversee and manage it. To meet these obligations, the board must follow the best practices in all areas.

One area that is of particular concern is fundraising and donor management. To assist in this, the board should promote creativity and innovative ideas among its members. It should also be the primary one to attract and keep new members. Included in this is a clear description of their role, and what they will be doing. This will help avoid miscommunications and expectations as well as assist in the process of recruitment.

Another important area is ensuring the management of revenue is well. Nonprofits are granted tax-exempt status in order to meet a need of the public and the board should be vigilant in securing this read this article about Insights into Virtual Due Diligence Rooms by making sure that every expenditure is justified. The board must ensure that the CEO’s spending is accountable and that the business is not spending more than they can afford.

Board members are often distracted by the importance of serving their community and forget they’re responsible for running the organization. This can be seen in the most important aspects like the appointment of an executive director to the smallest of details, such as weighing in about the price of a service. To avoid this, the board should regularly assess its performance and make any needed changes.