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White Papers
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denotes members-only content |
| Record(s) Found: 8 | Showing 1 - 8 of 8 |
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Multiple loyalties can create conflicts of interest. In private foundations, conflicts ofinterest occur when the financial or personal interests of board members or foundation managers are, or may appear to be, inconsistent with the interests of the foundation. In some cases, conflict-of- interest transactions violate the law; in other situations, they work to a foundation’s advantage. Regardless of intention or result, however, foundations, their boards, and their managers must act very...
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An executive session — sometimes called a closed meeting or an in camera session — is a useful tool for protecting and advancing the best interests of an organization. Executive sessions provide a venue for handling issues that are best discussed in private, for fostering robust discourse, and for strengthening trust and communication. Distinguished by their purpose and its participants, executive sessions serve three core functions: (1) they assure confidentiality, (2) they create...
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BoardSource dissects the revised Form 990, focusing on the board and addressing only direct governance issues. Part VI of the Form is the key section for this purpose, though relevant topics come up in other sections of the Form as well. We will explain why these governance issues are important to your board and organization – and to the IRS. And, we will include tips to help your board remain or become compliant – and even go beyond compliance to ensure that best practices become...
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Nonprofits, like all businesses, have quite a bit of flexibility concerning the internal organization of their structures and processes. However, that flexibility is constrained by a myriad of agencies, governmental and otherwise; statutes; and individuals that regulate their activities and to whom they are accountable. The following discussion will shed light on some of those bodies and regulations that oversee, sanction, guide, or place specific expectations on nonprofits. It is incumbent...
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Few, if any, roles are more significant in ensuring a foundation’s success than that of the board chair. Those new to nonprofit leadership may not know what is expected of a board chair. This primer is designed to increase their understanding of the role by presenting a brief introduction to nonprofit governance and foundation leadership. The paper offers a list of ten essential responsibilities for board chairs, practical tips for carrying them out, and recommended reading. The...
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More often than not, nonprofit board members find themselves in meetings that are filled with the least interesting and least challenging issues. Many board members and chief executives struggle to make board meetings valuable to the organization and the individuals in attendance.
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The Sarbanes-Oxley Act affects American publicly traded companies and principally regulates the auditors’ independence vis-à-vis their clients. It explains the processes for electing competent audit committee members and for ensuring that adequate reporting procedures are in place. In addition, it closes most of the loopholes for all enterprises, for-profit and nonprofit alike, relating to document destruction and protection of whistle blowers.
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In an ideal board meeting, all members are present and engaged in a structured and vigorous debate of the issues on the agenda. In reality, few board meetings are that perfect. For example, at times, even the most committed members are not able to attend every meeting. This is unfortunate because not only do they miss the meeting but the rest of the board misses their contribution. There is an option, however – meeting via tele- and...
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