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Nonprofit boards are essential in connecting an organization and its community. The board sets the mission, vision and values for the non-profit. It also has a major oversight and accountability function. The board is responsible for ensuring that the organization is meeting its purpose and achieving its goals. It must formulate strategies for fundraising and organizational plans and oversee financial management.

It is vital to be vigilant in observing the programs and services provided and their impact on the people and the results. This requires constant surveillance, which allows the board of directors to take necessary adjustments. Financial oversight entails reviewing and approving budgets, as well as ensuring that the organization is operating within its means and is in compliance with all financial regulations. It is the board’s fiduciary obligation to treat its assets as if they were its own and avoid risky investments.

Fundraising is a vital part of the board’s duties and it’s often up to each board member to get dirty. It is essential that the board receives regular, reliable reports about the progress and results of various fundraising campaigns. This will allow them to make better choices.

Many boards delegate management responsibilities an internal leader, typically a chief executive officer (CEO). The Board is responsible for finding the CEO and establishing the compensation for them, as well as giving annual evaluations to the CEO and the individual board members. The Board should also organize training and orientation programs for new and existing board members to help them in their expansion.