The Panel on the Nonprofit Sector’s Advisory Committee on Self-Regulation of the Charitable Sector has developed a set of 29 principles of effective practice for charitable organizations. The Committee recommends that all charitable organizations aspire to follow these principles and that all larger public charities (annual revenues of at least $1 million) and private foundations (assets of at least $25 million) implement these practices.
The Draft Principles for Self-Regulation are categorized in the following four areas:
Facilitating Legal Compliance – responsibilities and practices, such as implementing conflict of interest and whistleblower policies, that will assist charitable organizations in complying with their legal obligations.
Effective Governance – policies and procedures a board of directors should implement to fulfill its oversight and governance responsibilities effectively.
Strong Financial Oversight – policies and procedures an organization should follow to ensure wise stewardship of charitable resources.
Responsible Fundraising – policies and procedures organizations that solicit funds from the public should follow to build donor support and confidence.
Until February 2, the Committee will be accepting public comments with respect to the principles before it sends its recommendations to the Panel, You can view the draft principles here.