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Practical Guide Finance, Risk Management & Fundraising

Finance, Risk Management & Fundraising

This section summarises the main financial responsibilities of board members and the behaviours necessary to perform at their best; ensuring that their organisations remain solvent and that risk is well-managed. It also features answers to questions around fundraising, including whether a charity can accept money from anyone.

 

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Checklist

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  1. What is the role of the board in finance?

  2. What financial tools does a board need?

  3. Audit

  4. What is insolvency?

  5. Can a board authorise ex gratia payments and transfers (gifts)?

  6. Cultural Tax Reliefs

  7. How should a board manage risk?

  8. Acquiring and disposing of land and buildings

  9. What is the role of a board in artistic planning and risk?

  10. What is the board’s role in safeguarding?

  11. What other policies should a board approve?

  12. What does director/trustees’ liability insurance cover?

  13. What is the role of the board in fundraising?

  14. Gift Aid

  15. Should each board member contribute financially?

  16. Can the organisation accept money from anyone?

  17. What is the role of the board in advocacy?

    18. Checklist

    • Do all board members understand their financial responsibilities?
    • Do they have the right financial tools?
    • Is the risk register regularly updated and seen by the board?
    • Is the artistic programme presented to the board on a regular basis?
    • Is there a fundraising strategy and ethics policy?
    • Do all board members donate within their own financial ability?
    • Are board members properly equipped with clear messages to advocate and fundraise?

Explore other sections

Board Meetings & Recruitment

Lead a diverse and effective board

Roles & Responsibilities

Discover the division of tasks and liabilities

Structures

Choose a structure for your organisation