Weigh benefits of outside financial advisors versus skilled board members

Abstract

For many nonprofits, the question of who to have to manage their investments is a non‐issue. After all, it's not uncommon for nonprofits to need access to all cash they have on hand to meet monthly expenses, and if they have any reserves at all, they want it in an easily accessible, “liquid” account they can access without having to sell any stocks, bonds or other investment products.