Building your own charity is easy when you take into consideration these important 7 factors.
1. Put in strong financial controls.
Charities appear to be soft-targets and usually happens from within. No one single individual should be able to make or authorize payments.
2. Focus on financial management.
Make a clear financial model demonstrating how the organization is sustainable long-term through contracting and fundraising.
3. Avoid chasing money.
When a large donation is dangled before you, it is normal to reach out and grab it. However, without due diligence, one may be agreeing to contractual or donor commitments it cannot deliver
4. Good governance matters.
Charity Board Members should be active and have a range of skills to support the executives and ready to ask the tough questions of senior management. Term-limits should be put in place as fresh talent and thinking is necessary.
5. Find a great CEO.
Transitioning from an existing CEO is fraught with risk and so it may be avoided. The board must be strong enough to challenge and change senior management where needed.
6. Hire the “A” Team.
A great mission can attract great people and although charities may not be able to afford to financially compensate the greatest people, be relentless and know that finding someone “good enough” can be an expensive mistake.
7. Be ambitious.
Small charities can get caught in a trap where the Chief Executive spends too much time putting out fires and fundraising. Larger charities have an easier time putting in good management systems and talent to deliver the mission.
with information from: https://www.theguardian.com/voluntary-sector-network/2017/may/17/how-to-build-successful-charity-seven-easy-steps