WASHINGTON, Oct. 8, 2013 /PRNewswire/ -- Horatio Alger Association of Distinguished Americans, Inc., a nonprofit educational organization honoring the achievements of outstanding individuals and encouraging youth to pursue their dreams through higher education, today announced the release of its self-published book titled, "Governing Effective Nonprofits in the 21st Century." This publication seeks to fill a void in the nonprofit sector by highlighting effective governance practices and by stimulating new ideas for nonprofit success.
"The Members of Horatio Alger Association possess a strong philanthropic commitment to provide scholarships for deserving young scholars who are otherwise unable to pursue higher education," said Terrence Giroux, Executive Director of Horatio Alger Association. "Based on the experiences and insights of Horatio Alger Members, this book was published to inspire other charitable leaders to uphold the highest governance standards – regardless of the cause – and to provide best practices for effective leadership. Together with Brian Foss, the Association is proud to promote principles that contribute to effective nonprofit governance."
Nonprofit boards of directors and other key leaders can significantly influence a charity's governance and performance by adhering to the success factors outlined in "Governing Effective Nonprofits in the 21st Century." As the book illustrates, the role of a board is to make strategic decisions that help to create exemplary nonprofit organizations, and based on insights from experts, the publication proposes strategic methods to fulfill charitable missions.
"As leaders of innovative enterprises, the Members of Horatio Alger Association understand the importance of good governance strategies. Through this book, the Association provides other nonprofit leaders with tools to effectively govern their own charitable organizations," said Thomas J. Donohue, president and CEO, United States Chamber of Commerce and an Association Member, who authored the introduction for "Governing Effective Nonprofits in the 21st Century." "With $1.2 trillion expended annually in the nonprofit sector, one in ten Americans is currently employed by nonprofit organizations. The guidelines presented in the book will enhance the charitable sector by fostering success and engaging the trust of the community."
While the concept of governance remains the same for all nonprofits, factors such as size, level of staffing and geographic scope influence the principles of governance as well as leadership styles. As a result, the book clearly states that one size does not fit all. It suggests a personalized approach to the key fundamentals that distinguish exemplary organizations, which include:
- Developing a clearly defined mission statement endorsed by the organization's leadership and members.
- Selecting directors to serve on the board based on the needs of the organization and its mission
- Engaging board members to promote ownership, commitment to financial success, and effective governance.
- Planning strategically for the future of the organization with a tactical mission-centered focus.
- Ensuring the long-term success of the organization by focusing on the board's fiduciary responsibility in planning for the future.
With more than 35 years of executive experience, "Governing Effective Nonprofits in the 21st Century" author Brian E. Foss offers valuable insight regarding mission-centered, nonprofit governance and management tactics. Working closely with Horatio Alger Association, Foss has advised the Association on best practices for nonprofit governance and philanthropic efforts. Foss also authored the Association's book, "Investing in People and Communities," to stimulate new ways of thinking by board and staff members of nonprofit organizations. Two more books in this series by Brian Foss are planned for the future. Their titles will be "Adversity and Leadership" and "Adversity and Philanthropy."
To download a copy of "Governing Effective Nonprofits in the 21st Century," please visit https://www.horatioalger.org/publications.cfm.
About Horatio Alger Association of Distinguished Americans:
Founded in 1947, the Horatio Alger Association of Distinguished Americans, Inc., fulfills its mission of honoring the achievements of outstanding individuals who have succeeded in spite of adversity and of encouraging young people to pursue their dreams through higher education. The Horatio Alger Association supports students through annual undergraduate and graduate need-based scholarships and mentoring programs across the United States and Canada. Since 1984, the Association has awarded more than $100 million in college scholarships to deserving young people. For more information, please visit www.horatioalger.org.
SOURCE Horatio Alger Association of Distinguished Americans, Inc.