What are the most important policies for all associations?

One of the most important functions of an NFP Board is developing, implementing, and reviewing key policies. These are critical for volunteer Boards as they often act as a reference or endorsement of their values and culture.

Here are some examples that every association should have:


😎Code of Conduct
The Code of Conduct outlines the ethical and proper practices that board members, staff, and associations must follow. These may include, but are not limited to:
Diligence and a willingness to participate fully as a member of the Board while being able to dedicate enough time to its governance.
Not disclosing confidential and non-public information related to the association and its activities.
Ensure that each member of the Board is given the same opportunity to express their views and their opinions are offered the same weight as their peers.
Remain transparent with stakeholders regarding the association's performance.
Publicly and privately support the organisation.

😎Privacy Policy
The privacy policy protects the organisation and allows it to carry out its mission to the best of its ability. Additionally, all members should be aware of and agree to the privacy policies.

😎Media Policy
Your media policy is critical because, as a non-profit organisation, there may be times when you will be interacting with the media to achieve your goals. To prevent misrepresentation in the media and to protect the association's reputation, the following should be included:
Note that the policy is not intended to interrupt an individual's right to freedom of speech but to establish a healthy and effective working relationship with the media.

😎Finance Policy
A finance policy is a big task, but it is arguably one of the most important aspects of any organisation. Robust financial procedures will keep your association afloat and help you achieve your goals. Things to consider when building a finance policy include:
Keep up-to-date records and regularly generate reports on the association's financial health, including balance sheets.
All information regarding the association's finances should be reported to the Board.
Internal financial controls should be established to mitigate risk, accidental spending, and debt accumulation and limit who can access funds.

😎Risk Management
Procedures to mitigate risk are essential and should be agreed to by all members and staff. The Board is responsible for ensuring an objective risk management strategy is in place so that any legal or strategic risks can be dealt with.
A Board contrary plan will help maintain the organisation's regular operations during an unexpected disaster, such as a pandemic.

You should have a solid plan if your association runs into legal trouble.