Fiduciary responsibilities of board members -- Budgets and forecasts -- Nonprofit financial statements -- Audit and irs form 990 oversight -- Risk management oversight -- Policies and procedures -- Glossary of financial terms

For-profit and nonprofit organizations exist for different reasons: for-profits to generate a return on investment for shareholders and nonprofits to pursue charitable and social activities unrelated to commerce. The obligations of the boards of directors of both entities, however, are the same:...