Web management and knowledge management systems have made significant technological advances, culminating in large information management systems such as enterprise content management (ECM). ECM is a Web-based publishing system that manages large numbers of electronic documents and other Web assets intended for publication to Web portals and other complex Web sites. Work in nonprofit organizations can benefit from adopting new communication technologies that promote collaboration and enterprisewide knowledge management. The unique characteristics of ECM are enumerated and analyzed from a knowledge management perspective. We identify three stages of document life cycles in ECM implementations—content, reification, and commodification/process—as the content management model. We present the model as a mechanism for decision makers and scholars to use in evaluating the organizational impacts of systems such as ECM. We also argue that decision makers in nonprofit organizations should take care to avoid overly commodifying business processes in the final stage, where participation may be more beneficial than efficiency.