The nonprofit world is changing. Organizations that believe in the status quo … “What worked for the last 20 years is still relevant today,” are in for a rude awakening. Nonprofits need to change the way they do business, focusing on impact, innovation, entrepreneurial concepts, and strategic thinking to move them forward. This need has led organizations to include additional members from the business community on their Boards. Yes, it’s important to be able to bring in resources, and governance is important, but so is the ability to be opportunistic and strategic in how the organization is run. Organizations have been looking to shed some of the bureaucracy typically associated with nonprofits and replace it with the nimbleness of entrepreneurial thinking. As a result, nonprofit Boards should focus on some key business elements when they are meeting throughout the year.
Succession Planning: Over the next 10 to 20 years, it is anticipated that many of today’s nonprofit leaders will be retiring.