RSM Resources
|
|
||||||||
|
Transparency, Accountability and Good Governance: Principles for Boards of Directors and Chief Executives of Nonprofit Organizations
October 2007 The Panel on the Nonprofit Sector has released “Principles for Good Governance and Ethical Practice: A Guide for Charities and Foundations.” The Guide outlines 33 practices designed to support board members and staff leaders of charitable organizations as they work to improve operations. The Guide and the Reference Edition (www.nonprofitpanel.org) provide working strategies and related legal principles for tax-exempt organizations to apply to their organizations. Not all of the principles are necessary for every tax-exempt organization; however, each principle is worth considering to strengthen your organization’s effectiveness and accountability. Many of the enumerated principles are now part of the IRS draft Form 990 - Return of Organization Exempt from Income Tax. These guidelines are designed to help nonprofit organizations self regulate. With the intense scrutiny tax-exempt organizations face, reviewing these principles is an additional “Best Practice” that board of directors or trustees can use to demonstrate good stewardship. If you would like to discuss how these principles can be effective in your organization, please contact your RSM McGladrey advisor. Author: Ginny Striegel is a tax director based in RSM McGladrey's | |||||||||
RSM McGladrey Inc. is a member of RSM International - an affiliation of separate and independent legal entities.
2007 RSM McGladrey Inc. All Rights Reserved. Contact us toll-free at 800.274.3978
