VOLUNTEERISM

Resources for More Information on Fiduciary Responsibilities

By Lynn O'Shaughnessy

Numerous publications and other resources can educate board members about their fiduciary duties. Here's a sample list:

Governing Nonprofit

ALSO SEE: Tips to Help Board Members Better Understand Their Fiduciary Duties

Organizations: Federal and State Law and Regulation, by Marion R. Fremont-Smith (Belknap Press, 2004, $97.50). A comprehensive book that covers a variety of issues of interest to nonprofits. Ms. Fremont-Smith is a senior research fellow at the Hauser Center for Nonprofit Organizations at Harvard University, where she is directing a research study on governance and accountability of nonprofit organizations.

Independent Sector's Checklist for Accountability. Provides a quick way to assess whether an organization needs work on its fiduciary protections. The checklist, which includes a quiz, is available on Independent Sector's Web site.

Internal Revenue Service. The IRS's Web site offers information on such areas as disclosure law, provides links to state regulators of charities, and offers other resources.

Nonprofit Law Made Easy, by Bruce R. Hopkins (John Wiley & Sons, 2005, $34.95). A lawyer who has worked extensively with on tax-exempt organizations provides understandable explanations of the statutes, regulations, rulings and court decisions that apply to nonprofit organizations.

The Source: Twelve Principles of Governance That Power Exceptional Boards (BoardSource, 2005, $15 for BoardSource members, $20 for nonmembers). Provides a blueprint on how boards and their chief executives can improve their governance. The book can be ordered through BoardSource's Web site.

"Strengthening Transparency, Governance, Accountability of Charitable Organizations." The Panel on the Nonprofit Sector's report includes many recommendations for charities and foundations that seek to strengthen their operations, including board and executive compensation, audit committees, and the structure, size, composition. and independence of governing boards. Download the report at the committee's Web site.