Recommended By: Kim Fusco
This Journal of Accountancy article provides a good summary of best practices regarding proper Board governance policies over a not-for-profit organization.
It is important for not-for-profit organizations to follow these recommendations to ensure proper transparency, accountability & oversight. Also, it is noteworthy that the whistleblower & document retention/destruction policies are not only recommended, but these policies became required (even for not-for-profit organizations) when the Sarbanes-Oxley Act was enacted in 2002.
Here is the link to the article – http://www.journalofaccountancy.com/Issues/2013/Sep/20138255.htm