Treasurer Responsibilities

Purpose of the seat:

Provides financial oversight for the Foundation and gives the board confidence that money is handled correctly from the first year forward.

Core duties:

• Review monthly financial statements and the annual budget

• Present a financial report at each board meeting

• Help ensure the IRS Form 990 is filed accurately and on time

• Advise on financial controls, reserves and spending practice as the Foundation grows

• Work with the Founder and President on financial reporting to the board

• Bring financial judgment into board strategy discussions

Ideal candidate:

A CPA, accountant, bookkeeper, controller, auditor, nonprofit finance professional, or a retired finance leader. Nonprofit board finance experience is a plus. Someone comfortable reading a financial statement and willing to say plainly when a number does not make sense.

Time commitment:

4 to 6 hours per month

Term:

Six months to start, extendable in six month increments by mutual agreement

Key expectations:

Attends at least 75 percent of scheduled board meetings. Meetings are virtual, quarterly at minimum, and the board may move to monthly. Serves without compensation, with reasonable preapproved expenses reimbursed. Exercises fiduciary duty: care, loyalty and obedience.

Current status of this seat:

Held on an ACTING basis by Marquise Anderson while the Foundation recruits a permanent Treasurer.