Free Download: Nonprofit Procurement Policy Template

Download Our Nonprofit Procurement Policy Template

What is a Nonprofit Procurement Policy?

A nonprofit procurement policy (also known as a purchasing policy or vendor selection policy) provides guidelines to ensure fair and transparent practices when engaging with vendors and procuring goods or services for your organization.

Ethical considerations form the cornerstone of this policy—your nonprofit should advocate for practices that minimize conflicts of interest, evaluate vendor influences, and express a commitment to diversity and equity. Additionally, to maintain accountability, your organization needs to keep thorough records and accurately report its procurement activities.

Use This Accounting Template To…

• Define objective parameters for vendor selection, such as quality, cost-effectiveness, and legal compliance.
• Manage various types of procurement activities, including routine purchases, major acquisitions involving bidding processes (and their exceptions), and contract negotiations.
• Systematize purchase approvals and other operational aspects of procurement with clear steps and documentation.
• Implement a compliance framework for procurement that takes into account policy updates, audits, and relevant legal considerations.