A nonprofit board is a group of individuals that help a charity meet its goals, achieve its mission, and establish a sustainable business model. A nonprofit board that is well-functioning combines a range of skills and experience to guide the organization and cultivate community support. It also represents stakeholders.

In conjunction with key staff Nonprofit boards are accountable for strategic planning. This includes developing real-world plans that are in line with the mission of the organization and community needs.

The majority of nonprofits recruit people with a description wealth of expertise in philanthropy and business. They are expected to use their professional networks to help the organization raise money and achieve its fundraising goals.

Another important duty is to supervise the financial affairs of the organization and ensure the compliance of all financial regulations. This involves reviewing budgets, approving expenditures, and overseeing fundraising efforts. It also requires the board to be familiar with and understand the organization’s financial history.

The board of directors of a nonprofit is also responsible for ensuring that the organization is in compliance with legal requirements, including IRS guidelines and state laws. The board should also be able identify and resolve any conflicts of interests that may arise in the organization.

The board of a nonprofit must ensure that the executive director is operating efficiently, and oversee and evaluation of their performance. The board is also responsible in determining the pay of the executive director.