We believe that every nonprofit board member should make a personal financial contribution to their organization. Yes, this means beyond anything your company provides, beyond connecting others to the organization, and asking others to donate. This is for a few reasons:
A Board Member making a personal financial contribution is a public display of support for the organization.
If the board members are not willing to donate, why would the public be willing to donate?
On grant applications, many funders will ask "does 100% of your board give to the organization?"
This does not mean that a board member should be required to donate a significant amount. Many organizations will ask board members to donate "an amount that is meaningful to you". However, some organizations do require a minimum donation, although that would be made clear before joining the board.
 
Timestamps:
00:40 - Why do I have to donate to the organization in which I volunteer as a board member?
01:45 - The organization you are a board member on should be your #1 priority giving organization
02:20 - It shows public support of the mission, vision, and values of the organization
03:09 - It shows the board is 100% behind the organization
03:35 - Funders will ask “does 100% of your board give to the organization?”
04:05 - Some nonprofits require a minimum donation
04:30 - Contribute something that is “meaningful to you”
05:45 - Set a contribution policy, set the expectation
 
Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization.
Listen to the podcast on any of the following platforms:
Apple Podcasts
Spotify Podcasts
Amazon
iHeartRadio
Visit us at: www.thecorleycompany.com/podcast