During an April 2010 webinar on Creating a Social Media Policy for Your Nonprofit, we used the Policy Tool for Social Media to create a rough draft of a policy. The online interview in the tool includes 12 questions, and I asked the 30 or so webinar participants to pick the answers via GoToWebinar polling.
What resulted is a crowd-sourced rough draft of a nonprofit social media policy (link to a Word doc for you to download). I recommended that everyone start with this and then customize it for their own organizations, using some of the alternative language offered in Social Media, Risk, and Policies for Associations by Social Fish and Croydon Consulting. I also shared links to lots of other advice and samples policies to make this rough draft your own.