Ten questions every board director needs to ask about funding
An organisation’s financial viability is a crucial responsibility for every board director, so your eyes should be clearly focused on enabling the organisation to thrive. This in turn puts the organisation in the best position to promote and fulfil its mission. Understanding how the organisation pays the bills is important to its ongoing success. Future-proofing the organisation involves understanding the role of board directors in asking the right questions of one another and the organisation’s executive or staff team, to ensure you are all making decisions that will keep the organisation safe, successful and sustainable in the long term.
These 10 questions will help board directors to consider their responsibilities in relation to funding at their organisation.
To know why you should be asking these questions, download the full document.
1. Where does your organisation’s funding come from?
2. Has your organisation’s funding gone up or down in recent years?
3. Who are your biggest financial supporters?
4. When was the last time you thanked and surveyed your supporters?
5. Who supports you in a non-financial way?
6. What organisations are similar to yours or compete with yours, and where do they get their funding from?
7. What is your organisation’s fundraising strategy?
8. What do your board directors give?
9. What ties or connections do you have that can support the organisation’s fundraising goals?
10. Has the board received training on fundraising governance obligations and responsibilities?
More information
- The Funding Centre: Where not-for-profits go for money www.fundingcentre.com.au
- Finance for board directors: Plus many more governance help sheets: https://communitydirectors.com.au/tools-resources/finance-for-board-members