As we celebrate the 219th anniversary of the Bill of Rights on December 15th, let’s thank James Madison for introducing ten revolutionary concepts in the world of government.
Reading over his radical proposals got me thinking about creating a financial health bill of rights for nonprofits. Here are my first five.
Let me know what you think. Send me yours. I’ll post your submissions and we’ll take a vote on the best. Prizes will be awarded to the winners.
Funders shall make no law respecting an establishment of mandatory submission of budgets; or abridging the freedom of organizations to spend grant money as needed; or the right of the financial management team to petition funders for a redress of grievances.
A well-regulated financial management team, being necessary to the security of an independent nonprofit, the right of the team to keep records and bear reports, shall not be infringed.
No federal auditor shall, in time of peace be quartered in any nonprofit, without the consent of the board of directors, nor in time of war, but in a manner to be prescribed by law.
The right of the financial management team of nonprofits to be secure in their offices, papers and effects, against unreasonable requests by funders shall not be violated and no termination of funds shall result.
No nonprofit shall be held to answer for requesting time sheets, receipts or other documentation from staff.