Detroit District Denal Society Finance Committee
Last revision 1/9/2023
This information is for the finance committee reference information for upcoming meeting.
Dates of meetings
Articles from American Society of Association Executives
5 Things to do before before your Association Moves
5 Elements of a post pandemic workforce strategy for associations
Theft and Embezzlement_ A Diligence Checklist
Book. How to Read Nonprofit Financial Statements (Loan from Marcy Dwyer, 50 pages)
What kinds of questions should nonprofit finance committee members be asking?
One of the most important things that nonprofit board and finance committee members can do is ask insightful questions. Members shouldn’t just rubber-stamp financial documents; they need to understand what they approve because they have fiduciary responsibility for the nonprofit organization.
Here are some questions board and finance committee members should continually pose to the executive director or CEO and staff leadership:
- Do we have enough cash inflows to cover operations, or are we living off reserves?
- Do we have enough cash on hand to cover at least three months of operating expenses?
- What portion of our funds are we spending on program activities?
- Are we raising funds from a diverse array of donors and sources? Are we relying too much on grants? Are we growing our donor base?
- How much does it cost for us to raise a dollar?
- How much are we spending on administrative expenses?