BU School of Management launches new institute to address crisis in nonprofit leadership
Grooming the next generation of nonprofit leaders
In response to several national problems and their local impacts, Boston University School of Management is establishing the Institute for Nonprofit Management and Leadership (INML).
Reports INML’s Executive Director Barry Dym, “Nearly 75 percent of all nonprofit executives will reach retirement age in the next two decades. And in a recent survey of 6,000 nonprofit sector employees, 75 percent of executive directors plan to leave their jobs within five years. In addition, the number of nonprofit organizations with annual funding exceeding $250,000 grew from 62,800 in 1995 to 104,700 in 2004, a growth rate of 6 percent.”
“The INML prioritizes emerging leaders who are dedicated to leading social impact organizations in urban settings and/or working with underserved populations, youth serving organizations and/or social justice organizations.” – Kristen McCormack, Faculty Director, INML
In response, INML will prioritize emerging leaders who are dedicated to leading social impact organizations in urban settings and/or working with underserved populations, youth serving organizations and/or social justice organizations. This fall, INML will enroll 20 executive directors and 20 senior managers from nonprofit organizations in Greater Boston. Over the next three years, the Institute plans to engage more than 200 nonprofit leaders and managers. A formal launch is planned for November.
Major funding for INML has been provided by The Boston Foundation. “The nonprofit sector is large, vibrant and growing,” said Paul S. Grogan President and CEO of the Foundation. “That means the need for leadership is also growing. And the bar is continually rising. The next generation of nonprofit leaders has to able to flourish in a complex and increasingly global economy, which makes programs like this critical.”