In the business world, it’s common to hear the word ethics accompanied by the word compliance and vice versa. Business people sometimes incorrectly use the terms interchangeably. Ethics and compliance have different meanings; yet, they often go hand in hand.…
Anyone can make it onto the board of a nonprofit organization. In most cases, there’s not even any experience required. Surprisingly, some of the greatest nonprofit board members started their journey to nonprofit board service with nothing but a passion…
Governance has a whole new set of acronyms for new board directors to get used to. One acronym that inexperienced board directors of nonprofit organizations will hear a lot is D&O. The acronym stands for “directors and officers,” which by…
The very first email was sent in 1971 as an experiment to see if computers could actually talk to each other. Almost 50 years later, emails have become a staple of our personal and business lives. Up until recently, most…
Nonprofit boards strive to improve the effectiveness of their boards. Often, they just don’t know how to go about it. Those who make decisions around the boardroom—and how they make those decisions—determines whether the organization ultimately achieves its goals and…
The basic principles of good corporate governance apply equally to nonprofit entities as they do for public or for-profit entities. Good governance benefits both types of entities equally. Regardless of an organization’s tax status, good governance begins with a high-quality…
What is risk? According to the Business Dictionary, risk is defined as: “A probability or threat of damage, injury, liability, loss, or any other negative occurrence that is caused by external or internal vulnerabilities, and that may be avoided through…
It’s a misnomer to believe that only large nonprofit organizations need D&O insurance. Directors and officers of every-sized nonprofit organization have meaningful exposure to personal liability. About 20% of all U.S. corporations are nonprofits. The liability for directors and officers…
The National Council of Nonprofits deems the conflict of interest policy one of the most important policies that nonprofit organizations develop. It encourages nonprofit boards to put their conflict of interest policies in writing and to review the policies regularly.…
Nonprofit organizations play a vital role in improving the quality of life for people living in communities. Nonprofits provide many of the social services that fill the gaps that governments can’t or won’t provide. In those and other ways, nonprofit…
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