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| Acknowledgments | |
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| About the Authors | |
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| Preface | |
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| Overview of the Legislation and Its Implications for Nonprofits | |
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| What Is the Sarbanes-Oxley Legislation About?Relevance of SOX to Nonprofits | |
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| Current Legislative Environment for Nonprofits | |
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| Conclusion | |
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| Endnotes | |
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| Safeguarding Your Nonprofit's Financial Resources and Assets: Establishing Auditor Independence and Audit Committee Competence | |
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| SOX Titles II and III | |
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| The Value of Accurate Financial Statements | |
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| The Importance of a Good Audit | |
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| The Board's Responsibility Regarding the Financial Statements | |
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| Conclusion | |
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| Reading and Interpreting Financial Statements | |
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| Balance Sheet | |
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| Statement of Operations | |
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| Statement of Changes in Net Assets | |
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| Statement of Cash Flows | |
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| Financial Statement Analysis | |
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| Conclusion | |
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| Form 990: Unnecessary Paperwork or a Useful Tool?What Are Form 990 and Form 990-EZ?Why Is Form 990 Important?Management's Role in Improving Form 990 | |
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| Creating a Good Internal Control System | |
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| The Board's Role in Form 990 | |
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| Conclusion | |
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| SOX Sections VIII and XI: Document Retention and Whistleblower Protection Obligations | |
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| Whistleblower Protection | |
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| Creating a Confidential Reporting System | |
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| Document Retention, Archiving, and Retrieval | |
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| First Steps: Beginning the Process | |
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| Conclusion | |
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| >Raising the Bar of Accountability: SOX Best Practices and the Board | |
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| Legislative Environment: Best Practices and Governance | |
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| New Expectations for Board Oversight and Governance | |
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| Higher Expectations for Board Membership and Deliberations | |
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| SOX and the Board: Higher Performance and Greater Accountability | |
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| Championing SOX Best Practices: The Board's Governance Role | |
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| Conclusion | |
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| SOX Best Practices and Organizational Culture: Changing the Environment | |
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| The Nonprofit's Organizational Culture and the Adaptation of SOX Best Practices | |
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| Introducing Change | |
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| Nonprofit Board Culture | |
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| Strategies for Introducing Change in the Board Culture | |
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| Conclusion | |
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| Endnote | |
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| A Platinum Operating Standard Starts with Good Bones | |
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| SOX Best Practices: Moving to a Platinum Operating Standard | |
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| What Are Platinum Operating Standards?Review of Internal Controls | |
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| Conducting the Review of Internal Controls | |
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| Content and Structure of the Review of Internal Controls Report | |
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| Conclusion | |
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| Endnote | |
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| Creating a Competitive Advantage: Leveraging SOX Best Practices | |
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| Competitive Advantages of Being in Compliance with Sarbanes-Oxley Best Practices | |
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| Conclusion | |
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| Endnotes | |
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| SOX Best Practices for Small Nonprofits | |
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| Five Myths That Hold Small Nonprofits Back | |
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| Adopting SOX Best Practices | |
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| Scaling the SOX Best Practices to Fit the Needs of Small Nonprofits | |
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| Keys to Success in Customizing SOX Best Practices | |
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| Conclusion | |
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| Appendices: Best Practices: Checklists, Worksheets, and Sample Documents | |
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| Working Through the Four Basic Financial Statements | |
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| Balance Sheet | |
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| Statement of Operations | |
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| Statement of Changes in Net Assets | |
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| Statement of Cash Flows | |
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| Whistleblower Protection Policy | |
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| Document Retention and Storage Protocols | |
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| Document Retention Policy_Talking Points | |
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| Writing the Policy_Talking Points | |
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| Special Designations for Sensitive Documents | |
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| Storing and Archiving the Documents | |
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| Testing the System | |
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| Audit Committee Procedures and Protocols | |
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| Audit Committee | |
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| Composition of the Committee | |
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| Committee Functions and Deliverables | |
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| Conflict of Interest Policy | |
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| Talking Points | |
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| Sample Conflict of Interest Letter | |
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| Code of Ethics for Board and Senior Management | |
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| Talking Points | |
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| Sample Code of Ethics for a Nonprofit Board Member | |
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| Board of Directors_Governance Profile and Performance Expectations | |
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| Oversight and Policy Making | |
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| Term Limits | |
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| Summary of Board Committees' Descriptions and Performance Objectives | |
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| Process for Board Member Nomination and Election | |
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| Board Orientation Session Outline of Curriculum Board Binder Contents | |
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| Review of Internal Controls Report and Recommendations | |