Stealing Smart: For-Profit Best Practices for Nonprofits

"It's a very silly notion to say a nonprofit should run like a for-profit," he says. "The very fact that it's nonprofit means it is separate from a corporate entity — there are no shareholders, there is no profit margin, etc.

"On the other side, it's equally silly of nonprofits who do not immerse themselves in good business practices. Still, there is a world of difference," he adds. "Running a smart nonprofit does not mean running as a for-profit any more than running a well-meaning for-profit means running as a nonprofit."