FAQs From Business Executives Re: Financial Giving to Nonprofit Boards - Part I

FAQs From Business Executives Re: Financial Giving to Nonprofit Boards - Part I

"How much will be expected of me financially?" asked Greg. I was interviewing him in preparation for a national board training session for business executives who would be joining nonprofit boards.

Here's my response to Greg in addition to 4 more FAQs that business people ask me related to contributions and fundraising. Look for Part II next week for the remaining FAQs on this topic.

1. What does "give/get" mean?
The "give/get" is the combination of what you contribute financially and what you fundraise from others.

2. What's an appropriate give/get for most boards?
The amount varies widely from one board to the next. It can be $1,000 on a small neighborhood organization to millions of dollars for some of the most prominent boards, such as cultural institutions, and some of the largest, such as healthcare and education. And although the largest institutions in the US account for over 80% of nonprofit expenditures, they constitute fewer than 4% of the nation's nonprofits. The vast majority of nonprofits have budgets under $10 million.

For nonprofits with budgets between $1 million to $10 million, the give/get is often in the range of $5,000 - $15,000, with some board members choosing to do more. Some boards set a minimum give/get, while others will give you a range.

3. When should I find out about the board's financial expectations of me?

See continuation here...http://bit.ly/bw06vd

Korngold Consulting LLC assists corporations in building fully integrated, high-impact CSR strategies, including leadership development through nonprofit board service.  Korngold Consulting trains and places business executives on nonprofit boards, and consults to nonprofit boards and leaders to strengthen governance for financial and strategic success.