Board Members of a Not-For-Profit Organization Have a Fiduciary Responsibility

question 12

True/False

Board members of a not-for-profit organization have a fiduciary responsibility to provide fiscal guidance and ongoing governance over the not-for-profit organization to ensure that its exempt mission is carried out as described in the incorporating documents and exempt application.

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Definitions:

50 States

Refers to the constituent political entities that make up the United States of America, each having its own government and sovereignty under the federal system.

Severable Contract

A contract whose terms can be divided.

Divisible

Capable of being divided or separated into smaller components or parts.

Pygmalion Effect

The phenomenon where higher expectations lead to an increase in performance; a form of self-fulfilling prophecy.