The Fiduciary Duty of Nonprofit Board Members

One of the primary responsibilities of any nonprofit board member is to maintain the financial integrity of the organization they serve. Board members act as trustees of the organization’s assets and must exercise due diligence and oversight to ensure that the nonprofit is well-managed and that its financial status remains sound. In this video, we’re going to look at the best ways a board member can fulfill their fiduciary responsibilities.

📚 ADDITIONAL RESOURCES
•eBook: Successfully Starting a Nonprofit https://bit.ly/3M0Nj41
•VIDEO: The Importance of Confidentiality for Nonprofit Boards    • The Importance of Confidentiality for...  
•BLOG ARTICLE: Fiduciary Responsibility of Nonprofit Board Members https://bit.ly/3kCkZsB

🏆 YOUR NEXT STEP:
•Fill out this form for a FREE consultation on how to start a nonprofit: https://bit.ly/3Tu9nYE
•Register for Fundraising TV: https://www.501c3.org/fundraising-tv/
•Download the FREE eBook “10 Things You Need to Know Before Starting a Nonprofit” https://bit.ly/3XhFag0


0:00 Introduction
0:42 What is a Fiduciary?
1:41 Financial Responsibility: Budgeting
2:24 Financial Responsibility: Payroll and Compensation
3:25 Financial Responsibility: Accounting and Reporting
4:18 Financial Responsibility: Investments
4:50 Financial Responsibility: Handling of Funds
6:40 Penalties for Failing Fiduciary Duty
7:51 Conclusion