Thanks to everyone who attended today's webinar on risk assessment and designing internal controls. We once again send our thanks to Zurich, as they were instrumental in getting this webinar done. We also want to send special thanks to our three speakers, Peg Jackson, Tom McLaughlin, and Susan Ellis. They were all fabulous today. If you were not able to attend the webinar, here are some of the things that participants learned:
- Boards must review Form 990 before it is submitted to the IRS.
- All boards should have an audit committee.
- The most functional board size is no more than 15 individuals.
- CEOs shouldn't receive compensation that is 25 percent more than the next highest paid executive at the nonprofit.
- If a volunteer does something seriously wrong--something that could put the organization at risk--it is within the rights of an organization to remove them.
- Make sure a volunteer can perform all tasks necessary before hiring. They should be able to back up the skills they claim to have.