Nonprofit board collaboration & Collegialty

Corporate Governance Principles Make Sense to Nonprofits

Corporate Governance Principles Make Sense to Nonprofits

A blue-ribbon group of public directors, people like Warren Buffett, has developed a nine page “manifesto” that presents  commonsense operating principles for boards of publicly traded companies. Their objective is, “To provide a basic framework for sound, long-term oriented governance.” * My immediate response to the document was that about half of the guidelines can be easily translated into useful advice and/or caveats for nonprofit boards. The benefits as suggested by a Chinese proverb are, “A wise man learns from his own experiences, a wiser man learns from the experiences of others.”