It is now widely recognized that practices intended for public companies are being adopted by not-for-profits and private companies. As a result, directors of not-for-profit and private organizations, many of whom are executives in public companies, have reevaluated their oversight responsibilities and fiduciary duties. Notably, state governments and other regulatory bodies have begun to propose and adopt provisions similar to those of the Sarbanes-Oxley Act of 2002 and the stock exchange listing standards. 

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Deloitte Resources for Not-for-Profit Boards

The Deloitte Center for Corporate Governance has developed a suite of materials that address a number of matters relating to the duties of non-profit board directors. Items in the suite cover these areas:

For additional resources - including sample board self-assessment surveys - or for assistance, please contact the Center for Corporate Governance.

Surveys on Private and Not-for-Profit Board Practices

The National Association of Corporate Directors' 2012-2013 Nonprofit Governance Survey and 2012-2013 Private Company Governance Survey provide benchmarking data on a number of governance issues and practices specific to these company types. The surveys can be purchased at the NACD's website.

Principles for Not-for-Profit Boards

The Principles for Good Governance and Ethical Practice: A Guide for Charities and Foundations is designed to help organizations evaluate and improve their operations. Its 33 principles focus on four areas: legal compliance and public disclosure, effective governance, strong financial oversight, and responsible fundraising. Accompanying this set of principles is the Principles Workbook: Steering Your Board Toward Good Governance and Ethical Practice to help boards assess areas where their organizations are doing well and where there may be opportunities for improvement. Complimentary downloads of both resources are available.

Posted with permission from The Panel on the Nonprofit Sector, copyright 2007.

BoardSource has developed a set of principles, The Source: Twelve Principles of Governance That Power Exceptional Boards, which provide chief executives and board directors with a description of an empowered board and insight as to how to add lasting value to the organizations they lead and serve.

Posted with permission from BoardSource, copyright 2010.

Audit Committee Toolkits for Private Companies and Not-for-Profit Organizations

Purchase these Toolkits for sample checklists, matrices, reports, questionnaires and more that are designed specifically for audit committees of private companies and not-for-profit organizations.

Posted with permission. Copyright 2005 and 2008, respectively, by the American Institute of Certified Public Accountants, Inc., New York, New York.