What is
"financial responsibility?"

The act of evaluating financial activity as it relates to impact for the purpose of improving and validating donors' support.

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.