Treasurer

The treasurer is responsible for overseeing all aspects of an organization’s finances. Not only do they monitor Project: Humanity’s financial health, but they also keep the Board of Directors up to speed so that they can make better decisions.

Roles and responsibilities

1. Financial Oversight: The treasurer is responsible for monitoring and advising in the management of the organization’s finances, including budgeting, financial planning, and making sure that the organization operates within its budgetary constraints.
2. Financial Reporting: The treasurer is responsible for presenting financial reports to the board of directors and other stakeholders including the organization’s income and expenses, assets and liabilities, and other financial performance indicators.
3. Internal Controls: The treasurer reviews internal controls and, if necessary, updates them to safeguard the organization’s assets and prevent fraud or misuse of funds.
4. Compliance: The treasurer ensures that the nonprofit is compliant with all relevant financial and accounting regulations, as well as legal requirements or reporting obligations specific to charitable organizations.
5. Strategic Financial Planning: The treasurer collaborates with the Executive Director to develop long-term financial strategies that align with the organization’s mission and goals.
6. Auditing and Review: The treasurer may be involved in annual audits or financial reviews to ensure the accuracy and transparency of the organization’s financial statements.

Time Commitment

In addition to attending regular Board meetings, the Treasurer will meet with the Executive Director as follows:

• Quarterly to review the financial status and advise regarding any mid-year changes to the budget.
• As needed to advise as the Executive Director builds future budgets
• As needed to support any changes in financial management practices

Key Qualities

1. Financial Expertise: The treasurer should have a strong background in finance, accounting, or related fields. They should be familiar with financial principles, budgeting, and financial reporting and analysis.
2. Nonprofit Experience: Prior experience working with nonprofits or a good understanding of the nonprofit sector is very valuable. Nonprofits have unique financial challenges and compliance requirements, so relevant experience will be important in handling those challenges.
3. Integrity and Ethics: The treasurer will help Project: Humanity through difficult decisions with budgeting and reporting. While it is valuable to be comfortable with moderate risk, the treasurer must also be comfortable speaking up if anything is going off track. The treasurer should have a strong sense of integrity, ethics, and a commitment to transparency and accountability.
4. Attention to Detail: A treasurer must be detail-oriented to accurately assess financial records, prepare reports, and identify errors and/or discrepancies.
5. Analytical and Problem-Solving Skills: The treasurer should be able to analyze financial data, identify trends, and make informed financial decisions.
6. Communication Skills: Effective communication is critical for a treasurer to convey financial information to the board, staff, and other stakeholders in a clear and understandable manner.
7. Team Player: The treasurer will work closely with other Board Members, the Executive Director. They should be able to effectively collaborate and contribute positively to the team.
8. Adaptability and Continuous Learning: Financial regulations and best practices will evolve over time. An interest in learning and keeping practices up-to-date is highly valuable.
9. Dedication and Availability: Serving as a treasurer can require extra time commitments, especially during financial planning and reporting periods. Having the time to offer and the commitment to follow through is important to fulfill the role.