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Ep 8 - Is Serving on a Nonprofit Board a Good Fit for You?

“There are many things to consider when deciding to serve on a board. You have to ask yourself, and I think this is one of the most important things, what am I bringing to the board? Because it's an honor to serve on a board. What skills are you bringing? What perspective are you bringing?” - Nicole Miller-Coleman

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On this episode of Nonprofit Counsel, May visits with Terrell Turner, a bookkeeper and financial advisor who specializes in working with nonprofits. He brings valuable bookkeeping and tax reporting insights to startup nonprofits and those operating for some time. Terrell’s expertise as an accountant specializing in nonprofits and his podcast and website dedicated to the nonprofit sector speak to his wealth of knowledge to share. His recommendations can help organizations avoid common mistakes and navigate the unique challenges of managing a nonprofit's finances and reporting obligations.

IN THIS EPISODE:
 

[01:16] Nicole shares her background working in many areas of the nonprofit sector
[03:36] Nicole explains the distinction between a Certified Nonprofit Professional and a Certified Fundraising Executive
[07:52] How do you know if you are suited to sit on the board of a nonprofit
[12:57] Nicole discusses the importance of bylaws and minutes and transparency around finances
[18:17] Nicole talks about one of her favorite boards and bringing on a diversified board
[22:09] What constitutes a conflict of interest for a board member

KEY TAKEAWAYS: 


  • One should only join a nonprofit board after reading the bylaws and reviewing the financials.
  • ​If you're going to sit on a nonprofit board, you want to make a difference; otherwise, it feels like you're just wasting your time. Make sure the nonprofit appeals to you personally.
  • ​There are many governmental forms that a nonprofit should be filling out. If they don’t file them, the nonprofit status could be in jeopardy. As a prospective member, do your research into if these forms have been completed correctly.