Increased Demand for Accountability in Nonprofits Solved with a Strategic Planning System

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As Sarbanes-Oxley impacts the nonprofit sector, MyNonprofitPlan helps executive directors stay accountable by putting a strategic planning system at their finger tips to communicate performance and strategic direction. For the first time, executive directors can increase organizational transparency without increasing their work load.

demand nonprofit strategic planning, was launched today in response to the growing need for a cost-effective means for board members to monitor organizational activities and performance. Just as the impact of Sarbanes-Oxley is being felt in the private sector, it is also starting to affect some nonprofit organizations.

The trend towards voluntary compliance with Sarbanes-Oxley by nonprofits will continue according to the 2005 Impact of Sarbanes-Oxley on Private and Nonprofit Companies Study by Foley & Lardner LLP. According to the survey respondents, the need for nonprofit organizations to maintain a high level of credibility to ensue continued community and government support and the perception that the requirements involved in maintaining their tax-exempt status will be more stringent in the future.

To meet these growing requirements, MyNonprofitPlan co-founder, Erica Olsen believes executive directors need a simple way to keep their board members informed without creating more paperwork and additional expenses.

“Why not incorporate board communication activities into the strategic plan management and achieve two organizational mandates with one action,” stated Erica Olsen. “Additionally, board members don’t need to be buried with information; rather they need to be informed about key strategic actions and results.”

MyNonprofitPlan provides an easy-to-use online strategic planning system with built in monthly reporting. Executive directors can develop their strategic plans through a step-by-step process then choose when and who to send performance updates and progress reports. The system saves organizations from the potentially huge financial burden associated with increased accountability. Additionally, executive directors can easily modify and adapt their plans without the hassle of managing multiple static documents.    

“Strategic planning is critical if a not-for-profit is to survive in today’s rapidly changing environment,” said Elizabeth Power, an organizational performance consultant. “As a system, MyNonprofitPlan.org helps planning team members grow tremendously in their knowledge and ability to serve the constituents and stakeholders while they craft the organizational response and direct the organization’s future.

“My clients experience tremendous learning gains from using MyNonprofitPlan.org, making them better stewards of the resources with which the membership has entrusted them,” said Elizabeth Power.

For additional information on the news that is the subject of this release, contact Howard Olsen at howard@m3planning.com or visit http://www.mynonprofitplan.org.

About MyNonprofitPlan

MyNonprofitPlan is powered by M3 Planning, a business development firm specializing in small business strategic planning and market research. M3’s purpose is to make strategy a reality for entrepreneurial-spirited organizations. For more information on My Nonprofit Plan, visit http://www.mynonprofitplan.org

About EPower & Associates

Elizabeth Power, M.Ed., is the founder and CEO of EPower & Associates, Inc. She is a regular contributor to the Wiley and Sons Nonprofit Management Handbook Series. She is also a Six Sigma Black Belt. Her organization provides performance improvement and human resource development services in both the for-profit and the nonprofit sector.

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Howard Olsen