"Developing and adopting a written financial policy is a valuable practice for any nonprofit organization, no matter how small or large. Financial policies clarify the roles, authority, and responsibilities for essential financial management activities and decisions. In the absence of an adopted policy, staff and board members are likely to operate under a set of assumptions that may or may not be accurate or productive" (Propel Nonprofits). This section covers recommendations on financial policies which should be established for nonprofits, as well as resources to increase financial literacy.
