In the past, many boards took a cursory look at the IRS Form 990, made sure the numbers looked right, and left the heavy lifting to the chief executive and accountants.
Boards now must take a more active role. That is because the new form asks numerous questions about board structures, practices, and policies designed to illuminate the inner workings of organizations — questions that focus on how boards perform their roles and responsibilities. Sound scary? It doesn’t have to.
Fearless Filing: Conquering Form 990’s Governance Questions will not only help you navigate the questions, but also give your board the tools it needs to assess the caliber of its current governance practices, discover areas in need of improvement, and achieve greater accountability.
Each of the 37 tools begins with a Form 990 question and then provides guidance that will help boards and staffs answer the question. Many boards will want to review their policies or adopt new ones in light of the questions. The result of your efforts will be a stronger, more effective board that is able to demonstrate to the IRS that your organization is well governed.