The Panel on the Nonprofit Sector has released "Principles for Good Governance and Ethical Practice: A Guide for Charities and Foundations." The Guide represents the first time that charities and foundations reflecting a broad cross-section of the American nonprofit community have come together to develop principles of ethical conduct, accountability, and transparency that they aspire to and encourage all organizations to follow.
The Guide outlines 33 practices designed to support board members and staff leaders of every charitable organization as they work to improve their own operations. The Panel encourages these leaders to examine the Principles carefully and determine how best they should be applied to their own operations. The Reference Edition of the Principles includes legal background for each Principle, studies on self-regulation systems, and a glossary of terms.
Posted by Lewis J. Saret, General Editor, Wealth Strategies Journal.
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