Is your organization in good standing?
Are you concerned your organization’s nonprofit status could get revoked by the IRS due to non-compliance?
If so, you’ve landed on the right page!
Creating or updating an organization’s governance and fiscal policies and procedures is usually one of the last things the nonprofit’s board of directors want to tackle.
Thankfully, Rolanda S. McDuffie, CPA has created time-saving templates and to make developing policies and procedures that are specific to your organization.
There is no “one size fits all” manual that exists that will work for all organizations, but our templates offer a recommended structure and risks to consider so that the board of directors can decide what is best for your organization.
Maintaining meaningful and well-considered policies and procedures is a critical component of a strong financial management system.
They are used to establish an organization’s internal controls and for ensuring compliance with regulatory standards, as many nonprofit funders expect grantees to comply with specific policy and procedure guidelines.
Documenting the organization’s fiscal policies also serves as an important tool for clarifying roles and responsibilities and ultimately for ensuring that the organization’s financial data is an accurate and reliable basis for organizational decision making.
The policies and procedures templates contained in this manual are designed to:
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Protect the assets of the organization.
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Ensure the maintenance of accurate records of the organization’s financial activities.
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Provide a framework for the organization’s financial decision making.
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Establish operating standards and behavioral expectations.
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Serve as a training resource for staff.
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Ensure compliance with federal, state, and local legal and reporting requirements.
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