We believe that every nonprofit board member should make a personal financial contribution to their organization. Yes, this means beyond anything your company provides, beyond connecting others to the organization, and asking others to donate. This is for a few reasons:
- A Board Member making a personal financial contribution is a public display of support for the organization.
- If the board members are not willing to donate, why would the public be willing to donate?
- On grant applications, many funders will ask “does 100% of your board give to the organization?”
This does not mean that a board member should be required to donate a significant amount. Many organizations will ask board members to donate “an amount that is meaningful to you”. However, some organizations do require a minimum donation, although that would be made clear before joining the board.
Timestamps:
00:40 – Why do I have to donate to the organization in which I volunteer as a board member?
01:45 – The organization you are a board member on should be your #1 priority giving organization
02:20 – It shows public support of the mission, vision, and values of the organization
03:09 – It shows the board is 100% behind the organization
03:35 – Funders will ask “does 100% of your board give to the organization?”
04:05 – Some nonprofits require a minimum donation
04:30 – Contribute something that is “meaningful to you”
05:45 – Set a contribution policy, set the expectation
Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization.
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Visit us at: www.thecorleycompany.com/podcast