Taking up the mantle of “board treasurer” is about far more than just tracking the budget. The nonprofit board treasurer role is a demanding and engaging one, with a lot of responsibility and opportunity to effect change.
A board treasurer has to be a highly trustworthy individual, as they will be responsible for producing financial statements and accounting for the organization’s funds.
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In larger organizations, the board treasurer may be in charge of staff who will directly manage the organization’s finances. Conversely, in smaller organizations, the board treasurer is more likely to do everything on their own.
And, of course, the board treasurer will also consider the organization’s budget! If the organization is going over budget, or if its current budget is simply unsustainable, it will be the board treasurer’s responsibility to report this and to help find solutions to address the problem.
Usually, a nonprofit board treasurer should be someone who already has experience in bookkeeping or accounting — but that’s not always necessary. A board treasurer may simply be someone who is trustworthy, passionate about the organization, and willing to learn. Most entry-level positions as a board treasurer will require at least a 4-year degree.
Sometimes, rather than a sole board treasurer, there will be an entire financial board. This is more common in the case of larger organizations, which need to make more complex decisions about the organization’s financial management.
Lots of what a board treasurer does deals with the organization’s books, but the board treasurer role also includes making important decisions about the organization’s spending and investing. If you’re passionate about working for a nonprofit organization, and have a financial background, this could be the perfect role for you.
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