Looking for your next career? Individuals interested in running a not-for-profit will benefit from attending a credited program specialized in awarding degrees in organizational leadership. Organizational and leadership skills required to successfully run a not-for-profit are highly complex and nuanced.
College bound students who have a desire to hone their knowledge for the purposes of running a not-for-profit, such as Goodwill Industries, are encouraged to enroll in universities offering Organizational Leadership programs. The skills needed to lead not-for-profits are best acquired through rigorous academic programs staffed by professionals, who have firsthand experience working for, and running, not-for-profits.
Your Humanitarian Nature
Generally run by investors who are financially well-off, investments from the public sector are open ended, meaning that investors are free to withdraw and make investments openly. Unlike them, it’s quite different for not-for-profit organizations, as not-for-profits are typically run by individuals who have the skills to seek investments from a wide variety of sources.
Investors providing financial support to not-for-profits do not see a financial return on their investment, due to the humanitarian nature of not-for-profits, as not-for-profit organizations are interested in serving humanitarian interests. Any profits made from investments are for the goal of the not-for-profit’s mission; for example, Goodwill Industries’ profits are dedicated to serving the underprivileged. For this reason, the organizational leadership of not-for-profits like Goodwill Industries will seek investors who are interested in humanitarian goals.
They’re Different This Way
Due to the nature of not-for-profit missions and their financial structure, an education specialized in understanding how to manage not-for-profit investments, as well as seeking investments for not-for-profits, is crucial to successfully running such organizations. Further, the structure of not-for-profits is very unique, in that not-for-profits are corporations, but do not have the same financial mission of most profit centered corporations.
Like corporations, not-for-profits are typically ran by a board of trustees, board of governors, or board of directors, but the organization of the not-for-profit is not controlled by its investors, as not-for-profits are guided by their mission.
Similar to corporations, not-for-profits employ many individuals at many different pay rates, but unlike corporations, not-for-profits often employ volunteers, as not-for-profits seek to maximize their dollars. The organizational leadership of not-for-profits will necessarily require the same skills in managing their work force while employing volunteers.
The complexities of not-for-profits are very specialized. Running a not-for-profit requires the same skills as running a Fortune 500 corporation and a hedge fund, but unlike the latter, not-for-profits require leadership with very particular skills, which can only be acquired through receiving a degree in organizational leadership.
Author: Bill Lester
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