An Experimental Approach to Early-stage Nonprofit Governance
Five lessons on why establishing good governance matters
Interest in early-stage nonprofits within Korea’s social impact ecosystem has increased in recent years, and more and more are garnering financial and organizational support.
As one example, in early 2023, Brian Impact Foundation, which focuses on big-bet philanthropy, donated a total of 12.6 billion won (about $9.7 million) to 15 nonprofits through its Impact Ground Project. Among the grantees, early-stage nonprofits accounted for 66.7 percent. The foundation has also started a capacity-development program for nonprofits in collaboration with Root Impact, an intermediate support organization.
The ultimate success of these young nonprofits—their ability to fulfill their missions—will depend on many things, but good governance is among the most important. The global environmental, social, and governance (ESG) phenomenon sheds light on the long-overlooked matter of governance in the realm of corporate management in Korea, and we must examine nonprofits with the same lens.
Please select this link to read the full article from the Stanford Social Innovation Review.