Sarbanes-Oxley for Nonprofit Boards: A New Governance Paradigm

Membership on a nonprofit board should never be an "easy" assignment. It should be challenging work that results in a sense of satisfaction and a job well done - but never a walk in the park. The nonprofit world has changed dramatically in the past years, and never more dramatically than in the new expectations of nonprofit boards - just take a look at the governance section of the new IRS 990 form! The bar has been raised to a higher level than ever before. Nonprofit boards have been told that they will be held accountable for everything that takes place in the nonprofit. The old cliché that the management handles all of those things is no longer acceptable to regulators, legislators - or the IRS. The book is intended to help nonprofit boards and their leadership understand what is expected of them and their nonprofits in this new environment, and how to implement Sarbanes-Oxley requirements and best practices. The areas covered in this legislation are really practices that should have been in place all along. The enhanced expectations of Sarbanes-Oxley apply to all organizations, publicly-traded companies, private firms and nonprofits. There was a lot of "push-back" to the IRS's inclusion of the section on nonprofit governance. They decided to keep it in despite the outcry. Why? Because the IRS believes that a nonprofit with solid board leadership is more likely to be compliant with federal law. This book is a great companion toNonprofit Risk Management & Contingency Planning: Done in a Day StrategiesSarbanes-Oxley and Nonprofit Management: Skills, Techniques, and Methods. Regards, Peg