What are the responsibilities of the board of directors of a nonprofit organization?

The board of directors of a nonprofit organization in Indiana has a number of important responsibilities to ensure its operations are in compliance with the law. These responsibilities include: 1. Establishing the mission and purpose of the organization. The board of directors is responsible for setting the overall mission and purpose of the organization, as well as for regularly reviewing and updating it as needed. 2. Ensuring the organization is following legal and ethical standards. The board of directors must make sure that the organization is fulfilling its legal requirements, such as filing the necessary paperwork with the state, and following ethical standards set forth by the IRS. 3. Developing the organization’s policies and procedures. The board of directors is responsible for creating policies and procedures that guide the organization’s operations, such as rules regarding employee conduct and finances. 4. Overseeing the financial well-being of the organization. The board of directors must ensure that the organization’s finances are managed properly and that the organization’s resources are being used in the best possible manner. 5. Selecting the executive leadership team. The board of directors is responsible for hiring the executive director and other key staff members, as well as periodically evaluating their performance. By following these responsibilities, the board of directors ensures that the nonprofit organization fulfills its purpose and operates in accordance with the law.

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What are the responsibilities of the board of directors of a nonprofit organization?

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