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Strengthen Your Nonprofit's Accountability with a Code of Ethics

ARTICLE | November 19, 2024

Authored by Vasquez + Company


Even if you believe your nonprofit operates ethically, adopting a formal code of ethics can provide added benefits. This article, "You Know Your Nonprofit is Ethical. Put it in Writing!" explores the importance of a written code of ethics for nonprofits and offers practical advice on how to create and implement one.

Key Points

  • Values into Action: The code of ethics clarifies how your nonprofit's core values are put into practice by board members, staff, and volunteers.
  • Creating the Code: Identify key values from your mission statement and strategic plan, and incorporate important areas like fairness, legal compliance, and diversity into your code.
  • Practical Considerations: Address topics like governance, conflicts of interest, transparency, and responsible stewardship of funds.
  • Final Steps: The code must be approved by your board, and training and regular reinforcement are essential for success.

Adopting a code of ethics helps build trust with stakeholders and strengthens your nonprofit’s integrity and accountability.

For more information, read the full article here.

 

Our firm provides the information for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. This article is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

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