Finally! Nonprofit financial oversight is simplified. If you are looking for a way to quickly and efficiently equip your nonprofit board or finance committee members to oversee the financial affairs of your nonprofit organization, look no further. With more than 30 years of hands-on experience serving hundreds of nonprofit organizations, Mike Batts brings his concise and clear communication style to this important topic. Each chapter of this book is an easy read, and the book is loaded with information provided in a plain-language format. The Appendices provide a wealth of useful resources.
You don't need to be a financial expert to oversee the financial affairs of a nonprofit organization, but you do need to know what to look for and how to evaluate the information you receive. Nonprofit Financial Oversight - The Concise and Complete Guide for Boards and Finance Committees helps you do just that - simply and efficiently.
Resources in this book include:
Annual Board Financial Oversight Checklist
Your board or finance committee can know the bases are covered by using this helpful plain-language checklist as a reminder of key financial oversight issues that should be addressed in your organization every year.
Sample Policies
Not only does this book tell you in a straightforward manner what policies most nonprofit organizations should have in place, it provides an array of sample policies to greatly simplify the process of adopting them.
Sample Finance Committee Charter
This book will help you determine whether your organization needs a finance committee or an audit committee. And if you do, you are ready to go with a sample finance committee charter and guidelines for an audit committee charter!
Chapter Titles
1. The Duty of Board Members to Oversee Financial Operations
2. The Finance Committee
3. Audits and Other Accountability Practices
4. Key Areas of Financial Oversight
5. Governing Documents and Policies
6. Internal Financial Reporting and Monitoring
7. Financial Health
8. Tax Compliance
9. Risk Management
Appendices
A. Annual Financial Oversight Checklist for Boards and Finance Committees
B. Sample Conflicts-of-Interest Policy
C. Sample Executive Compensation-Setting Policy
D. Sample Policy on Dishonesty, Fraud, and Whistleblower Protection
E. Sample Donor Privacy Policy
F. Sample Gift Acceptance Policy
G. Sample Expense Reimbursement Policy
Michael E. (Mike) Batts has more than 30 years of experience serving hundreds of nonprofit organizations in a variety of ways. He has served on and chaired the boards of nonprofit organizations, both nationally and locally. At the time of the book's writing, Mike serves as chairman of the board of ECFA, a national organization that accredits religious nonprofit organizations in the areas of board governance and financial integrity. He advises nonprofit organizations on matters related to board governance, financial oversight, financial reporting, tax compliance and strategy, risk management, corporate structure, international activities, and related topics. Mike has actively engaged in nonprofit legislative matters at the federal and state levels. He served as chairman of the Commission on Accountability and Policy for Religious Organizations -- a national commission convened by ECFA upon the request of U.S. Senator Charles Grassley to provide policy advice to Congress, the Treasury Department, the Internal Revenue Service, and the nonprofit sector related to federal tax policy affecting religious and other nonprofit organizations.
Mike recently co-authored, together with attorney and CPA Richard Hammar, the book Church Finance - a "go-to" reference that provides practical guidance for church financial administration. Mike has also authored three other books, entitled Board Member Orientation, Unrelated Business Income and the Church, and Unrelated Business Income and the 501(c)(3) Public Charity.
Mike is a CPA and the president and managing partner of Batts Morrison Wales & Lee, P.A., a national CPA firm headquartered in Orlando, Florida dedicated exclusively to serving nonprofit organizations and their affiliates across the United States. He is licensed or authorized to practice in multiple states and is also a Chartered Global Management Accountant.
