Of all the responsibilities your nonprofit board takes on, managing a successful leadership transition will likely be the most demanding—and the most important.
Selecting and integrating a new executive director involves much more than interviewing a few good candidates. In fact, the process should go to the heart of your organization’s mission, both now and in the future. You can be sure the outcome will directly affect every aspect of your work, from staff retention and successful events to the number and generosity of your donors. (more…)
On Dec. 22, 2017, President Trump signed the most far-reaching tax legislation since the Reagan era. The measure reduces taxes, and thus government revenues, by an estimated $1.5 trillion. It may also significantly impact the number and size of individual financial contributions to nonprofits.
U.S. government support for charitable giving has historically taken the form of tax deductions, and the new tax bill leaves those deductions nominally in place. For practical purposes, however, they will no longer be available to millions of Americans. (more…)
Only one-fifth of nonprofit organizations have a retention strategy for top leadership, which may help explain why at least a third of director-level executives plan on leaving within two years.
And turnover is expensive. When an employee earning $50,000 or more departs, the average cost to your organization is 20 percent of their salary. (more…)