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.