Financial Management

Nonprofits have an obligation to act as responsible stewards of their financial resources. Nonprofits must comply with all legal financial requirements and should adhere to sound accounting principles that produce reliable financial information, ensure fiscal responsibility, and build public trust. Nonprofits should use their financial resources to accomplish their missions in an effective and efficient manner, and should establish clear policies and practices to regularly monitor how funds are used.

Excerpt from, Principles & Practices for Nonprofit Excellence in Colorado.