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Nonprofit organizations in Northeast Ohio face unique challenges compared to for-profit businesses, particularly around transparency. Form 990 is publicly available on sites like Guidestar and shows whether an organization has key policies such as conflict of interest, whistleblower, and document retention policies. Donors and watchdog groups can easily see if a nonprofit is missing these policies. At 415 Group, we help clients put these policies in place to strengthen transparency and build stakeholder trust.
For new nonprofits, a conflict of interest policy should come first. It protects the organization and its board by requiring members to abstain from related discussions or votes and ensuring any transactions occur at or below market value.
Whistleblower and document retention policies are also critical. They should include training, clear reporting channels, investigation procedures, and protections against retaliation. Without them, organizations face significant operational and legal risks.
Smaller nonprofits can adapt sample gift acceptance policies to fit their needs. A fixed asset capitalization policy helps staff know which purchases to expense and which to capitalize. IRS safe harbor thresholds can affect nonprofits with unrelated business income, taxable subsidiaries, or those at risk of losing tax-exempt status.
415 Group provides boards with policy examples, capitalization threshold guidance, and implementation support. Strong governance helps nonprofits attract donors, improve watchdog ratings, and sustain their missions over the long term.
At 415 Group, our CPAs specialize in serving nonprofits, providing accounting and advisory services tailored to public charities, private foundations, churches, schools, country clubs, and other 501(c) organizations across Northeast Ohio. We help our clients navigate the best practice policies associated with nonprofit organizations.
Nonprofit organizations play a vital role in addressing social, environmental, and cultural issues. A handful of policies are recommended as best practices by nonprofit watchdog groups, grantors or the IRS. Below is a list of the recommended policies.
Recommended Policies
Conflict of interest policy with annual disclosure form
A conflict of interest policy allows directors and employees to identify and disclose relationships that could create potential conflicts between the organization and the person or company affiliated with the individual.
Whistleblower policy
A whistleblower policy gives employees and volunteers guidance on how to report potential violations of policies or laws without retaliation.
Document retention and destruction policy
A document retention and destruction policy provides a guideline for staff on how long each type of document should be retained.
Gift acceptance policy
A gift acceptance policy clarifies the types of gifts that an organization can accept. It can also specify procedures that need to be followed for certain types of gifts (for example: board approval prior to acceptance, environmental studies for real estate, liquidation of donated stocks or cryptocurrency).
Fixed asset capitalization policy
A capitalization policy establishes the threshold for determining whether a purchased or donated asset should be capitalized or expensed.
The Bottom Line
Implementing best practice policies is not just about compliance—it’s about building a resilient, ethical, and impactful organization. By prioritizing governance, financial stewardship, and transparency, nonprofits can better serve their communities and sustain their missions for the long term.
At 415 Group, we help nonprofits strengthen their operations with clear, effective policies that promote accountability and growth. If your organization is ready to refine its governance framework and ensure long-term success, reach out to our team for expert guidance.
