Board Effect – Do NonProfits Need Liability Insurance

The answer to the question about whether nonprofits need liability insurance is more than a simple “yes” or “no.” When a group or individual considers purchasing any type of insurance policy, it’s important to think about the reason they need it, and the potential for them to cause harm to someone else, either intentionally or unintentionally.

Source: Board Effect

Minnesota Council of NonProfits – Volunteer Management

Volunteers’ ideas, energy, and ability to connect with others are crucial resources for nonprofit organizations to perform their role in society. Engaging volunteers is an essential part of the early stages of the life cycle of many nonprofits and also builds the capacity of nonprofits at any stage of the organization cycle.

Source: Minnesota Council of NonProfits

National Council of NonProfits – Volunteer Management

Volunteers are a tremendous resource for charitable nonprofits. Absent volunteers, many charitable nonprofits would not be able to conduct programs, raise funds, or serve clients. The vast majority of board members who serve on charitable nonprofits’ boards are volunteers.

Source: National Council of NonProfits

Business practices that not-for-profits can’t afford to overlook

A strong foundation and structure can help organizations reach their full potential. Not-for-profits have different missions and goals than for-profit enterprises do, but both must have the right management team and business practices in place to function and grow.

Source: Journal Of Accountancy

An Executive Director’s Guide to Financial Leadership

There is an important distinction between financial management and financial leadership. Financial management is the collecting of financial data, production of financial reports, and solution of near-term financial issues. Financial leadership, on the other hand, is guiding a nonprofit organization to sustainability.

Source: Nonprofit Quarterly

How Board Members Can Learn to Spot Red Flags

Here we go again. A few weeks ago, Nonprofit Quarterly reported about the fallout from reports by FEGS Health & Human Services in New York of an unexpected $19.4 million loss: changes in the executive office and cuts to programs and budgets. Like many others in the sector, one of my first reactions was to ask, “Where was the board?”

Source: Nonprofit Quarterly

Governance and Related Topics – 501(c)(3) Organizations

The Internal Revenue Service believes that a well-governed charity is more likely to obey the tax laws, safeguard charitable assets, and serve charitable interests than one with poor or lax governance.
A charity that has clearly articulated purposes that describe its mission, a knowledgeable and committed governing body and management
team, and sound management practices is more likely to operate effectively and consistent with tax law requirements.

Source: IRS.Gov