Individuals and corporations regularly make many choices about how they spend and allocate their money. A budget is a plan for how the organization wants to spend its money. In making decisions about allocating funds, nonprofit board members must take…
Starting a nonprofit organization is an exciting and rewarding venture. The beginning phase is the most important phase of development. It pays for founders to take a detailed and well-planned approach to forming a nonprofit organization. Initially, forming a nonprofit…
Policies and practices are important to the structure of nonprofit organizations. Formal policies and practices define expectations for board members, staff and volunteers to prevent disagreements, alleviate confusion and prevent liability issues. In addition, written policies and practices form the…
In the excitement of fundraising, getting donor commitments and hosting events, nonprofit boards may overlook an issue that’s vital to the organization’s sustainability — risk management. Risk management is a proactive activity when it’s done well. Too often, boards unwittingly…
The media has generated a fair amount of negative publicity about the boards of directors of nonprofit organizations and corporations because of poor or weak governance. The unsavory attention has motivated many nonprofit boards to re-evaluate their governance models with…
Our society benefits greatly from for-profit and nonprofit organizations. Their purposes are different, which means that each needs to have a different governance structure in order to grow and thrive. The strength of the governance structure, along with the quality…
Board directors have millions of apps to choose from regardless of which electronic device they choose to use at any given time. Electronic apps have various levels of built-in security features. This fact presents an issue that concerns nonprofit board…
Technology is one of the most useful tools that nonprofits have at their disposal. Younger board directors are more likely to have familiarity with technology and how the nonprofit can use it to run more efficiently, save time and money,…
Effective boards plan their board agendas wisely. The intent is to address all necessary business at their regular business meeting. Board director time is valuable, so it’s important to cover as much ground as possible during regular meetings. Unfortunately, even…
Nonprofit boards should get acquainted with the acronym GRC at their earliest opportunity. GRC is commonly known as governance, risk and compliance. Corporations, large and small, rely on these principles to ensure that they’re operating their businesses ethically and legally.…
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