Board of Directors – Treasurer

ROLE DESCRIPTION:  TREASURER 

GENERAL DESCRIPTION: A voting Board Member who maintains the fiscal aspect of the ministry.  

GENERAL DUTIES:  In addition to the general responsibilities of all board members and leading the Financial Team, the treasurer responsibilities include the following.  The treasurer ‘s role (T) is an oversight position. 

Tasks may be delegated to a financial team member.  Many tasks are outsourced (O), completed by the Bookkeeper (B), managed by the Executive Director (ED) or performed by a volunteer (V) as noted below. However, the oversight of the financial team rests with the Treasurer. 

  • Oversee the management of the financial affairs of the organization, including such basic tasks: 
  • Selecting a bank (T)
  • Recommending an accounting system (T)
  • Reconciling bank statements (B)
  • Managing PayPal account (B)
  • Sending invoices (B, ED)
  • managing cash flow (B)
  • Knowledgeable about who has access to the organization’s funds and any outstanding bills or debts owed. (T, B)
  • Create and maintain systems for ensuring the organization’s ongoing solvency and oversee the organization’s financial policies: 
  • check signing authority (T)
  • expense reimbursement (policy) (T)
  • credit card usage, and petty cash policies (T)
  • Supports the financial policies (Financial policies)
  • Place all reports in the MDM Board of Directors Dropbox file. (T)

  • Prepare a financial report at each board meeting detailing income, expenditures, asset and liability values monthly. (B)
  • Present the annual financial review report to the board for approval. (annually) (T)
  • Prepare special financial reports addressing proposed plans for large expenditures. (as needed) (T)
  • Place all reports in the MDM Board of Directors Dropbox file. (T) 

    • Ensure that the organization is a good steward of charitable donations. (T)
    • Register with charitable solicitation agencies (ED)
    • Record donations, prepares and sends the tax-exempt status letters annually.  (B, ED)
  • Ensure the organization is in compliance and registered with Secretary of State for those states that require registration for charitable donations. (T)
    • Prepare a year-end report to the board. (T, B, ED)
  • Place all reports in the MDM Board of Directors Dropbox file. (T)

 

  • Prepare an annual budget, as well as regularly monitoring and comparing the actual revenues and expenses incurred against such budget be reviewed and approved by the board.  (T, V, B, ED)
  • Prepare special event budgets.  (as needed) (T)
  • Place all reports in the MDM Board of Directors Dropbox file.  (T)

 

  • Update financial data on GuideStar.  (T) (annually)
  • Participate in an annual financial review.  (T, B, V, ED)
  • Present the annual financial review report to the board for approval. (annually) (T)

  • Keep a calendar of filing requirements. (ongoing) (T)
  • Work with accounting contractual staff to ensure all documents are submitted as required.  (quarterly) (T)
  • Work with staff to ensure all documents are submitted as required in order to prepare the 990 Form to be submitted to the IRS and State. (T, V, ED)
  • Complete the required financial reporting forms (including the IRS Form 990) in a timely manner and making these forms available for the board’s review. (T, V, ED)
  • File Form 1099 – Obtain an IRS Form W-9 from those providing paid services who are not your employees. (Outsourced)
  • File Form 1099-MISC to report payments totaling more than $600 per calendar year to such persons. (T)
  • Obtain permits and Licenses. (T, ED)
  • Place all reports in the MDM Board of Directors Dropbox file.  (T)

 

  • Manage all employee documents for compliance with Federal and State regulations.  (T)
  • Works with contractual staff to ensure all employee documents are submitted as required.  (T)
  • Submit Form 941 (T)
  • Issue W-2 form to all employees. (annually) (T)
  • Place copies of all documents in Dropbox. (T)

  • Assist with the identification and solicitation of potential candidates
  • Evaluate the background and training of candidate.
  • Submit candidate to the Board of Directors for approval.  
  • Participate in the onboarding process for the new treasurer.

  1. Financial knowledge of the organization.
  2. Personal commitment to devote the time necessary to perform the responsibilities of Treasurer.
  3. Understanding of financial accounting for nonprofit organizations.

 

Accountable to: Board Chair

How to apply: Please Complete the Board Application form and email to motherlessdaughtersministry@gmail.com

Contact person: Mary Ellen Collins, PhD