The board members of nonprofits need to be prepared to perform a wide variety of duties. The most important responsibilities are to establish governance and management policies that support the sustainability of a non-profit and also to oversee financial management. They also create strategic plans and oversee the implementation of these plans. They may be personally accountable for nonprofit obligations in limited circumstances like failure to pay withholding taxes on wages of employees.

In a majority of cases the board will choose to hire an employee to oversee the organization. This is referred to as an executive director, or CEO, and it is their responsibility to recruit and train the staff and board. They may also be involved in fundraising activities. The job of the executive director is a big challenge for a new nonprofit, and it is often better to have a seasoned board member mentor the first CEO/ED, so that they be able to collaborate with the board to achieve success.

Board members must be sure that the organization has enough funding to implement its programs. This could mean making personal donations, arranging fundraisers and other philanthropic activities. The Board should be familiar with the way that nonprofits present their financial statements and ensure that a clear and efficient system is in place to stop fraud or embezzlement. They should also know how to create an annual budget and then approve it, and they are responsible for monitoring how closely the actual spending is to the budget.

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