At this point, you’re well past the startup phase and into the nonprofit’s ongoing operation. Making it to this point requires time, dedication, and a highly engaged team. So, congratulations on making it to step 7!
All nonprofits require ongoing attention and management, otherwise called governance. The Board of Directors is one of many functions responsible for the organization’s daily and ongoing administration. Everyone involved with the nonprofit has a role in the origination’s operation, from the Board of Directors to every volunteer.
While not as exciting as marketing or working with volunteers, ongoing governance is crucial for every organization. Governance requirements include:
- Strategic Plan: Developing a set of shared responsibilities and goals.
- Consultation and Networking: Seeking the advice of others.
- Board of Directors: Ensuring the Board has the tools necessary for ongoing operations.
- Insurance: Protecting the Board, any assets owned by the organization, and mitigating personal liability.
- Policy Manuals: Creating a set of standards and practices for everyone in the organization.
- Annual Reports and Adults: Reporting the organization’s fiscal responsibility.
Part of the organization’s governance includes compliance with state and federal requirements. We’ll address those in the next step.