Nonprofit Board Service for Financial Professionals
Author: Rob Stephens
| CPE Credit: |
3 hours for CPAs |
Serving on a nonprofit board is a wonderful way to improve our world and can provide some benefits to you. As a financial professional, you have so much to offer not-for-profit companies. This course is for those new to not-for-profit boards and provides insights to those with nonprofit board experience.
This course will cover the duties of a financial professional as a board member. I'll start with the benefits you provide to a nonprofit board and what your board experience may offer to you. You’ll learn the key questions to ask and the important document to review before joining a board. I'll list the three duties of all board members. We'll also explore the personal liability risks of joining a board and some risks the organization faces. You'll learn some ways to mitigate these risks.
The second half of the course goes deeper into nonprofit financial oversight. We'll look at the financial policies that boards use to guide their organizations. I'll explain how nonprofit financial statements differ from for-profit statements and how financial management is also different. We'll look at the duties of the finance committee and the audit committee, as well as the types of nonprofit audits and examinations. I thought a great way to end a course on tax-exempt organizations is with a lesson on tax compliance. Ironic, isn't it?
Publication Date: May 2026
Topics Covered
- Role and Value of Financial Professionals on Nonprofit Boards
- Nonprofit Governance and Board Member Duties
- Risk Management and Personal Liability
- Nonprofit Financial Oversight and Committees
- Nonprofit Financial Management and Financial Statements
- Compliance, Tax Exemption, and Regulatory Reporting
Learning Objectives
- Recall the duties of a board member
- Identify key aspects of nonprofit financial statements
- Recall important nonprofit financial filings, exams, and audits
- Recognize the duties of nonprofit finance and audit committees
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Business Management & Organization (3 hours)
Program Prerequisites
None
Advance Preparation
None
