Remote Financial Operations and the Coronavirus Pandemic

Amidst the coronavirus pandemic’s continually developing implications for individuals, nonprofits, and businesses, now is the time to ensure that employees can perform key financial operations functions working remotely… e.g., from their homes. It is also the time for nonprofit organizational leaders to ensure that their online giving operations are fully functional and working well.

Best Practices Amidst Coronavirus Concerns

Nonprofit directors and officers owe the nonprofits they serve a fiduciary duty of due diligence. In the context of COVID-19, this means board members should be as mindful of COVID-19-related matters as they would be for any safety-related issue. The ordinary legal standard for whether board members have satisfied their legal duty is generally known as “business judgment rule:” What would an objectively reasonable person do in a similar situation? As nonprofits grapple with still-emerging challenges, here are key practices and initial recommendations based on the current situation, all of which are important for fulfilling due diligence responsibilities.