T-101 How To Be A Treasurer

All board members share the responsibility for a nonprofit organization’s financial health. The treasurer is an officer of the board. Like other board officers, the treasurer has additional responsibilities. It’s important for the treasurer to manage the financial matters of the nonprofit appropriately. In addition, the treasurer must make sure that fellow officers and volunteers also understand the organization’s financial policies and procedures.

Nonprofit organizations help bring communities together for the benefit of a common cause. Nonprofits that follow all laws and regulations earn the trust and respect of their communities, which means they must be responsible and accountable for the organization’s money management.

The treasurer must be certain that all accounting records and books are up to date at all times to avoid any suspicion of wrongdoing. In addition, most nonprofits limit the length and number of terms their board directors and officers serve, so it’s important for current treasurers to get things ready to transfer duties to a new treasurer. The outgoing treasurer will want to make sure that all financial matters are current and clearly laid out so that it will be a smooth transition for the incoming treasurer.

National nonprofit organizations that have state and local affiliates sometimes have electronic portals set up for financial standardization and accountability. Organizations usually provide training for the treasurer or membership chair in these situations.