WHAT’S THE DIFFERENCE BETWEEN NONPROFIT AND FOR-PROFIT ACCOUNTING, AND HOW DOES IT IMPACT THE FIDUCIARY DUTIES OF BOARD MEMBERS?
By Lee Klumpp, CPA, CGMA There are many opinions on what the fiduciary responsibilities of nonprofit board members are. The National Council for Nonprofits discusses that boards should: a) Take care of the nonprofit by ensuring prudent use of all assets, including facility, people and goodwill; and provide oversight for all activities that advance the nonprofit’s Read More…
