National Board Governance Survey for Not-for-Profit Organizations

2008 National Board Governance Survey for Not-for-Profit Organizations 

Over the past five years, there has been an increased focus on the governance of not-for-profit organizations nationwide. In 2008, the IRS implemented major revisions to Form 990, the form submitted by tax-exempt and not-for-profit organizations detailing their annual financial information. Among other changes, the expanded Form 990 now requires organizations to disclose governance policies, practices and procedures, making it imperative that boards understand the requirements and participate in review.

According to the 2008 National Board Governance Survey for Not-for-Profit Organizations, heightened scrutiny of not-for-profits has led boards and management to focus on:

• Governance policies
• Fiscal oversight
• Executive compensation
• Audit committee role
• Form 990 filing and review