Management

Succession planning for nonprofit organizations requires more attention. A CompassPoint and Meyer Foundation study in 2011 found that only 17% of nonprofits surveyed had a document detailing their succession planning. However, 67% of executive directors anticipated leaving the organization within the next five years. Further, the study found nearly a third of current directors (31%) had tenure of fewer than three years, which was more than the 27% of executives who had ten or more years of experience. Clearly, as the economy continues to improve and the nonprofit sector evolves with the demands of the 21st Century, there is a great [...]

If your passions have led you to consider starting a nonprofit, then you’ll be happy to know that nonprofits come with a host of benefits. Perhaps the most well-known advantage is becoming eligible for tax exemption, but there are many others that are equally beneficial. After becoming a nonprofit, your organization will enjoy limited liability under the law and be eligible to receive grants and donations. Additionally once you get over the hurdle of initial funding, nonprofits tend to attract very interesting employees. Oftentimes, people that work for these organizations have a strong work ethic and are very passionate about helping [...]