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Endowment
· Ex
officio · Executive committee
· Fiduciary · Form
990 · Fundraising ·
Goals · Indemnification
· Independent contractors
· Independent sector ·
Measurable Objectives · Mission
· Nonprofit Organization ·
Officer · Quorum
· Restricted funds ·
Restricted gifts · Strategies
· Trademark · UBIT
(Unrelated Business Income Tax) · Values
· Vision
A-B
| C-D | E-Z
Endowment
"By reason of their office;" a person serving on
a board due to his or her position rather than through elections.
See Governance.
Ex Officio
"By reason of their office;" a person serving on
a board due to his or her position rather than through elections.
Executive Committee
A committee that has specific powers, outlined in the bylaws,
which allow it to act on the board's behalf when a full board
meeting is not possible or necessary.
Executive Director
An employee of an organization who is assigned the principle
responsibility for administering the organization; sometimes
termed "president" or "executive vice president";
this may be an officer position. In performing arts organizations,
this person is also referred to as the "general manager."
See Human Resources.
Fiduciary
One who is bound to look after the affairs of another, using
the same standards of care and prudence as he or she would
use in attending to his or her own affairs, as in a trustee
of a trust or a board member of a board.
Form 990
An annual information form submitted to the IRS.
Fundraising
The process of soliciting and receiving contributions using
such activities as direct mail solicitation, in-person solicitation,
private foundation grant solicitation, special events, telemarketing
and planned giving. See Fundraising.
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Goals
3-5 critical competencies the organization must have to achieve
its vision, values and mission.
Indemnification
A guarantee by an organization to rely on its own resources
to pay board members' legal costs for claims that result from
board service. Generally referred to in regards to fiscal
matters. Part of the Bylaws and serves as a protection statement
for board members, trustees, officers, volunteers, or employees.
Independent Contractor
An individual who is contracted to perform a specific project
or service for a specified amount.
Independent Sector
The segment of U.S. society represented by nonprofit, charitable
organizations, also known as the voluntary sector, nonprofit
sector, or private sector.
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Measurable Objectives
A few big, key indicators or measures that describe when/how
a goal has been achieved.
Mission
What you are here to do and your unique approach to the business
you are in.
A mission statement is text that states the
activities that the organization wishes to engage in and gives
specific guidance on the direction the organization should
take in regard to programs, services, and activities. The
law obligates the trustees/board of the organization to limit
their activities to those covered by the mission statement.
See Strategic Planning.
Nonprofit Organization
A nonprofit organization is a corporation formed for purposes
other than generating a profit and in which no part of the
organization's income is distributed to its directors or officers.
Nonprofit organizations are formed pursuant
to state law, often under the Revised Model Non-Profit Corporation
Act(1986). A nonprofit corporation can be a church or church
association, school, charity, medical provider, legal aid
society, volunteer services organization, professional association,
research institute, museum, or in some cases a sports association.
Nonprofit organizations must apply for tax-exempt status at
both the federal and state level.
Officer
An individual who, by reason of an organization's articles
of organization and/or bylaws, is assigned certain duties
in the operation of an organization.
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Quorum
A minimum number of people required at a meeting in order
for business to be conducted. See Governance.
Restricted Funds
Donations or other monetary designations that are given with
an attached stipulation that the funds be used for a specific
purpose or cause. Also, the parameters and amount to which
funds resulting from endowment income are allowed to be used,
as stipulated by the endowment's charter.
Restricted Gift
A contribution, usually to a charitable organization, that
is accompanied by documentation mandating that it must be
applied to a particular purpose of the organization, rather
than used for its general operations.
Strategies
What ways (how) will you choose to accomplish your goals?
(How will we go about "Taking the Hill?")
Trademark
A distinctive design, picture, emblem, logo or wording (or
combination) affixed to goods for sale to identify the manufacturer
as the source of the product. Words that merely name the maker
(but without particular lettering) or a generic name for the
product are not trademarks. Trademarks may be registered with
the U.S. Patent
Office to prove use and ownership. Use of another's trademark
(or one that is confusingly similar) is infringement and the
basis for a lawsuit for damages for unfair competition and/or
a petition for an injunction against the use of the infringing
trademark.
UBIT (Unrelated Business
Income Tax)
A tax levied on the unrelated business income of a nonprofit;
the tax is equivalent to corporate taxes.
Values
Abstract qualities that you prize.
Vision
A description of the reality you expect to create.
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