Corporate Governance Best Practices: Strategies for Public, Private, and Not-for-Profit Organizations

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Frederick D. Lipman , L.

EXAMPLE - Part 4 Accountability Series - Not for Profit organizations

Keith Lipman. KEITH LIPMAN lectures nationally on management of information and technology subjects and is a member of the product management team at Interwoven, one of the world's fifty largest software companies and a leading provider of enterprise content management solutions.

He holds both an MBA degree and a law degree. Request permission to reuse content from this site.

Best Practices in Corporate Governance

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This is a dummy description. Praise for Corporate Governance Best Practices "A thorough and thoughtful guidebook on the governance lay of the land. Elson, Woolard Chair in Corporate Governance and Director of Weinberg Center for Corporate Governance, University of Delaware "Frederick Lipman provides a comprehensive approach to best corporate governance practices for all organizations, which is current, thoughtful, and practical.

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Directors and corporate governance personnel of public, private, and not-for-profit organizations must read this book. His advice on this important topic, which impacts the boards of all types of organizations-public, private, and not-for-profit-is required reading in this day and age. Boards that commit to these practices are more likely to stay in compliance with laws and regulations at every level.

Non-profit board directors should be well-acquainted with the mission, vision, and purpose of the organization. All board directors need to be familiar with the process for selecting and hiring an executive director , as outlined in the bylaws.

Nonprofit Corporate Governance: The Board’s Role

As part of this duty, board members will set compensation levels, oversee the executive director, and monitor his or her performance. Board directors will need to support the efforts of the executive director and collaborate regarding board decisions as they get implemented. Part of the responsibility for overseeing the executive director is to provide an annual, objective executive director evaluation. One of the more important roles of non-profit board directors is to work collaboratively with other board directors to write and adopt sound policies according to ethical and legal governance.

Financial management policies should always be written clearly and be consistently implemented. These practices ensure effective planning and protect the organization from undue liabilities. Occasionally non-profit activities get off to a rousing start and then lose their steam for various reasons.

Top Five Corporate Governance Best Practices

Sometimes this happens because of the lack of available volunteers. The board holds the responsibility for monitoring and strengthening programs and services—activities which require regular oversight. Fundraising is one of the primary activities of non-profit organizations.

As such, it needs the primary attention of the board. Incoming funds from donors and members sustain the financial health of the organization. In its strategic planning, the board needs to actively participate in fundraising from start to finish. For example, board members decide on fundraisers and take a role in the planning activities such as marketing, registration, accounting, and volunteering working at events.

Enterprise Governance Management (EGM) Solutions

Taking a vested interest in fundraising helps form the foundation that ensures adequate financial resources to advance the mission. Board members need to make prudent decisions when approving the use of facilities or other property of the organization. Donors look for assurance that their donations are being used wisely and board members have an obligation to fulfill their expectations.

Nonetheless, in the interest of good governance, non-profit boards have a responsibility to build a competent board. Targeted recruiting is the first important step towards gaining expertise around the non-profit boardroom. Orientation should be an expectation rather than an option, and it should include communicating governance policies, legal responsibilities, fiduciary duties, and any special issues regarding the organization. Current board members should impress upon newer board members the importance of ensuring legal and ethical integrity.

Integrity is inclusive of obeying laws, adhering to the bylaws, aligning activities with the mission, and avoiding conflicts of interest.


  • Corporate Governance For Private Business – Two Best Practices (Updated);
  • Nonprofit Corporate Governance: The Board’s Role?
  • My Walking Miracle.
  • Non-Profit Corporate Governance: The Role of the Board.
  • Customer Reviews?
  • Three Tales!
  • Public Sector Governance - A Guide to the Principles of Good Practice.

Board members should hold each other accountable for making decisions in the best interest of the organization, rather than individual members.

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