This document summarizes a presentation about financial accountability for nonprofits. The presentation covers compliance with government regulations, accountability in financial governance and oversight, risk management best practices, and danger zones to avoid such as improper lobbying or abuse of nonprofit status. It provides handouts and resources on topics like creating financial control policies, conflict of interest policies, and preventing and managing fraud. The goal is to help nonprofits reduce risk, increase confidence, and ensure compliance.
42. Risk Management for Nonprofits Best Practices to Prevent Financial Crisis Identify Risk Ranks Risk Identify Policies to manage risk Implement protections Implement procedures in event of crisis
43. Risk Management – D&O Insurance Directors & Officers Insurance Protects the Board and Key Staff
45. Handouts – 10 Ways to Catch Fraud and Mistakes from Outside Handout – 15 Ways to Minimize Employee Fraud Risk Management - People Poor economy has resulted in an increase in criminal conduct against nonprofits Embezzlement by employees Embezzlement by officers Fraud from “outsiders” Phrase of the Day – “Trust But Verify”
55. Has Your Status Been Revoked? Google: “recent IRS revocations” http://www.irs.gov/charities/charitable/article/0,,id=141466,00.html Comprehensive List of “Automatic Revocations” (organized by state)http://www.irs.gov/charities/article/0,,id=240099,00.html
74. Any Questions? Thank you for your attention! Miriam Robeson, Attorney Today’s materials are available on Miriam’s Website: http://blog.lawlatte.com/index.php /upcoming-workshops/