What are the key responsibilities of a nonprofit board?
The key responsibilities include governance, financial oversight, strategic planning, and ensuring compliance with laws.
Can you explain what governance means in this context?
Governance refers to the framework of rules and practices that ensure the organization is directed and controlled effectively.
What role does financial oversight play?
Financial oversight involves monitoring the organization's financial health, approving budgets, and ensuring proper financial reporting.
How often should a board meet to fulfill its responsibilities?
Typically, a nonprofit board should meet at least quarterly, but more frequent meetings may be necessary depending on the organization's needs.
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