Often formed as a support for the volunteer treasurer and the paid accounting/finance staff, a Finance Committee usually has a key role in establishing annual budgets, and in monitoring performance against the budget periodically - monthly or quarterly - during...
The single most important current investment issue for Canadian foundations is the need to increase investment returns. This need for enhanced investment performance reflects a change in our Canadian charitable environment and investment environments. As governments struggle to control their...
MOST FRAUD investigators would agree that the elements required for fraud to occur are motivation on the part of the perpetrator combined with opportunity. Opportunity generally arises through an organization's non-existent or ineffective internal controls. The more checks and balances...
Although it's generally unsubstantiated, we probably hear or read about fraudulent activity, on average, at least weekly. The headlines confirm that fraud - lying, cheating and stealing for financial gain - does occur in NPOs and, in some instances, may...
Most Ontario charities are aware - or should be - that they should address the potential for liability arising when their board of directors continues to delegate investment decision making to a discretionary investment fund manager. While a court might...
This article appeared previously in Canadian FundRaiser Sometimes being the mouse sleeping with the elephant is more hazardous than other times. For example, right now, most Canadian not-for-profits collecting donations from their generous fellow citizens to "do good" beyond our...
A good friend has asked you to join the board of directors of a well known nonprofit. After the first meeting you realize this once flourishing organization is trapped in a blizzard of financial mismanagement. Or perhaps you were the...
Charitable and nonprofit organizations in Canada are facing a wide variety of legal issues. Sometimes, these issues are of the organization's own making through inadvertence, negligence or misunderstanding, and they may, as a result, be involved in legal proceedings they...
Roles and Responsibilities The management of an organization's finances is one of the least understood, yet most important responsibilities of a board member. This responsibility is on two levels - as an individual board member and as a board collectively....
Analysts and critical observers of foundation and endowment funds comment that the related assets should not be managed or thought of in the same way as pension funds. This can happen easily, because the financial executive in many not-for-profit entities...
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