Return

Outline of Legal Responsibilities of the Board

Maintain current mission statement and bylaws
Conduct business consistent with bylaws and operating policies
Maintain registered agent and office
File necessary State and Federal returns
Keep adequate minutes
Register appropriate dissent
Disclose and record conflicts of interest
Know and understand the type of tax-exemption granted to the organization

Establish appropriate financial authority and controls
Prepare and regularly review financial statements
Require board approval for financial policies and major expenditures
Require board approval for spending and borrowing limits
Keep and generate appropriate donor substantiation records
Observe registration requirements for charitable solicitation
Monitor unrelated business income
Ensure the filing of accurate tax forms in timely manner . Protect tax-exempt status

Hire and evaluate the chief administrator and set appropriate compensation
Hire and evaluate auditor and other professional consultants
Approve personnel policies
Cultivate board member prospects
Nominate and elect board members according to bylaws
Orient and train new board members

Ensure accurate (not defamatory) communications
Determine organization's reference policy for former employees
Approve a media relations/crisis plan
Foster good will of "competitors" which might challenge tax-exempt status Monitor activities of organizations, which attempt to influence legislation
Prohibit organizational support or opposition to a candidate for public office

Review insurance coverage
Engage in risk identification, assessment, and management

Keep organization on track with mission
Protect tax-exempt status

Return