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Why is it important to assess the development needs of all fulltime employees and to develop plans to address any gaps? Ongoing professional development helps employees improve their performance in their roles and build the skills they need to advance.1 In a job market in which nonprofits compete...
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Definition: Cause-related marketing1 Cause-related marketing (sometimes called social marketing) is a venture with a non-charitable partner to promote the sale of items or services on the basis that a portion of the revenues will be directed to a charity or charities.
Why is it important for...
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Why is a written job description important? The board of directors is responsible for monitoring the performance of the organization’s most senior staff person in order to ensure that the organization is functioning effectively. 1 A formal job description lists all the activities and competencies...
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Why is it important to orient new board members? Orientation of new board members is an essential component of creating an effective board of directors.1 In order to govern a nonprofit or charitable organization, board members must be informed of the organization’s goals and activities and must...
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CRA considers that donors who buy lottery or raffle tickets do so primarily because they want a chance to win the prizes that are offered and not because they want to make a donation to the charity that is holding the event. Therefore it does not allow tax receipts to be issued.
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Why is it essential to establish appropriate screening processes for volunteers? The primary purpose of volunteer screening is to ensure a safe environment for your organization’s clients, staff, and volunteers.1 Organizations working with vulnerable populations in particular have a moral and legal...
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Definition: Succession Plan1
A succession plan sets out how potential departures of key personnel would be dealt with in the short-term and long-term through internal or external candidates. It could define key competencies, identify pools of talent and outline how current staff members are being...
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Definition: Financial Statements1The statements of the financial activities of the organizations, normally including:
a balance sheet, which shows assets, liabilities and equity at year-end;
a statement of income, which shows the results of operations for the year;
a statement of retained...
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The board is responsible for determining and reviewing the compensation package of the organization’s most senior staff person. When reviewing the most senior staff person’s total compensation package once per year, it is important that the board review all related expenses.
Definition: Total...
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Why is it important to record board meetings and retain policies? Preparing and retaining proper minutes from board meetings is an essential part of a transparent and accountable governance process and serves to preserve a record of agenda items discussed, documentation reviewed, votes taken, and...
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