More than three-quarters of nonprofits surveyed by Grant Thornton LLP do not have a give and/or get policy for its board members.
In its Not-for-Profit Pulse Survey, the tax, accounting and consultancy found that 77 percent of 403 organizations polled do not have such a policy. An additional 4 percent require board members to give and/or get, but do not define the required amount.
And, a whopping 98 percent reported their organization does not have a give/get policy for executives.
Give and/or get is a policy where board members have to locate a specific amount for the charity, either by writing a check or finding other resources in that amount. Some organizations will clearly define the amount that is expected, while others encourage board members to donate an amount that is personally significant or meaningful to them, based on their past history of giving, their net worth, occupation, etc.
Of the 92 organizations that reported having a defined policy, 35 percent require less than a $5,000 commitment from board members. Another 35 percent require a contribution of between $5,000 and $20,000. Only 11 respondents require more than $20,000 to be donated or raised by each board member per year.
Executives of nonprofit organizations appear to be exempt from the give and/or get policy, with just nine organizations requiring top executives to donate or raise money for the cause or institution.
While the time commitment for serving on a nonprofit board varies depending on the type of organization, it is important to make sure that the board is personally invested at some level in the organization’s mission, according to a Grant Thornton spokesman.