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Fiscal and Fiduciary Responsibilities of Board Members


Course
Chris Bailey
Free
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This course equips nonprofit board members with essential knowledge and tools to fulfill fiduciary responsibilities. Participants will learn asset protection, financial oversight, and revenue diversification strategies to ensure organizational sustainability and ethical governance.

This course provides nonprofit board members with the knowledge and practical tools needed to fulfill their fiduciary responsibilities effectively. Emphasizing asset protection, sustainable financial practices, and financial oversight, participants will gain skills to safeguard resources, diversify revenue streams, and enhance financial resilience. The curriculum fosters a culture of financial literacy and ethical governance rooted in transparency, accountability, and strategic decision-making. By integrating these principles, board members will be empowered to align financial strategies with their organization’s mission, maximizing its impact and sustainability for the communities it serves.

Here is the course outline:

1. Fiscal and Fiduciary Responsibilities of Board Members

Introduction
Course Description

2. Introduction to Board Members' Fiduciary Responsibilities

Asset Protection Fundamentals
Principles of Financial Reporting
Ethical Governance in Nonprofits
Quiz
Course Project: Developing a Comprehensive Fiduciary Plan
Nonprofit Board Member Fiduciary Responsibilities Group Project

3. Understanding Financial Statements

Overview of Financial Statements
Interpreting Financial Data
Importance of Financial Analysis
Quiz
Financial Statement Analysis Project
Group Project: Financial Statement Analysis for a Nonprofit Organization

4. Balance Sheet Analysis

Understanding Balance Sheet Structure
Assessing Financial Health
Balance Sheet Case Study
Quiz
Nonprofit Balance Sheet Analysis Project
Group Project: Balance Sheet Analysis for Nonprofit Organizations

5. Income Analysis: Revenues and Expenses

Revenue and Expense Types
Analyzing Income Statements
Cost-Saving Opportunities
Quiz
Project: Comprehensive Income Analysis for Nonprofit Organizations
Group Project: Income Analysis for Nonprofit Organizations

6. Budgeting Strategies for Nonprofits

Budgeting Basics for Nonprofits
Aligning Budgets with Goals
Advanced Budgeting Techniques
Quiz
Nonprofit Budgeting Project
Budgeting Strategies for Nonprofits: Group Project

7. Risk Management and Insurance

Identifying Organizational Risks
Mitigation Strategies and Insurance
Case Study: Risk Management
Quiz
Nonprofit Risk Management Plan Project
Risk Management Group Project

8. Ensuring Legal Compliance

Legal Obligations of Nonprofits
Ensuring Financial Compliance
Compliance in Action
Quiz
Legal Compliance Project for Nonprofit Board Members
Nonprofit Compliance Project

9. Ethical Standards in Financial Management

Upholding Ethical Standards
Building an Ethical Culture
Scenarios in Ethical Decision-Making
Quiz
Ethical Standards in Financial Management: Course Project
Group Project: Developing an Ethical Financial Management Plan

10. The Board's Role in Financial Oversight

Audit and Oversight Functions
Monitoring Financial Performance
Best Practices in Oversight
Quiz
Financial Oversight Project
Group Project: Developing a Financial Oversight Plan for a Nonprofit

11. Understanding Financial Ratios and Indicators

Key Financial Ratios
Interpreting Financial Indicators
Practical Ratio Applications
Quiz
Financial Ratio Analysis Project
Group Project: Analyzing Nonprofit Financial Health

12. Crisis Management and Financial Recovery

Crisis Management Fundamentals
Developing Recovery Plans
Simulation: Crisis Response
Quiz
Crisis Management and Financial Recovery Project
Crisis Management Group Project

13. Promoting Financial Transparency

Principles of Financial Transparency
Communicating with Stakeholders
Implementing Transparency Tools
Quiz
Financial Transparency Project
Group Project on Financial Transparency

14. Sustainable Financial Practices

Introduction to Financial Sustainability
Developing Sustainable Revenue Streams
Implementing Cost Management Strategies
Quiz
Nonprofit Financial Sustainability Project
Group Project: Designing a Sustainable Financial Plan for a Nonprofit

15. Advanced Financial Analysis Techniques

Introduction to Advanced Financial Analysis
Utilizing Financial Ratios for Decision-Making
Scenario Planning and Forecasting
Quiz
Nonprofit Financial Strategy Project
Course Project: Advanced Financial Analysis for Nonprofits

16. Course Summary and Next Steps

Key Takeaways and Lessons Learned
Action Plans for Financial Responsibility
Future Directions and Continuous Learning
Quiz
Nonprofit Financial Responsibility Project
Group Project: Developing a Fiduciary Action Plan for Nonprofit Sustainability
Study guide
Glossary
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