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Best Practices for Nonprofit Boards: Managing Finances and Investments

Best Practices for Nonprofit Boards: Managing Finances and Investments

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This concise handbook offers nonprofit directors at all levels of financial experience the best practices of today's most successful nonprofit managers. It covers every major area of interest and concern for fiduciaries, delivering exactly what they must know to protect principal adequately and grow their organization's funds intelligently. Here are proven solutions to the problems nonprofit boards think about most, such as balancing operational cash with building the endowment, setting up outstanding accounting systems, guarding the institution's nonprofit tax status, and avoiding costly tax penalties and even fines against directors. Whether the concern is asset allocation, rebalancing a portfolio of investments, following rules issued by the Financial Accounting Standards Board, answering insurance questions, or wrestling with the benefits and risks of non-traditional investment vehicles, Best Practices for Nonprofit Boards is portable, authoritative, selective and thorough guidance on such topics as: Fixing long-term financial goals; Meeting the legal obligations of fiduciaries; Setting up financial reporting and controls; Keeping clear of the tax code; Selecting and monitoring investment advisers; The risks of complex investment strategies.