What is "financial responsibility?"

How is it achieved?

1. By creating realistic budgets to assure success;
2. By developing a multidimensional plan for securing the right resources (i.e. people and financial) to achieve impact;
3. By ensuring that resources are used the way they were intended and by optimizing their value;
4. By discovering how the nonprofit organization can be better at what it does, including identifying the need for additional counsel where necessary; and
5. By nonprofits being good stewards of financial responsibility by communicating honest results to stakeholders in a timely fashion.