"I came across this tool and I have to say - for communities and organizations that do not have a large resource base - this may just assist most groups to come up with a policy or guidelines etc. It asks a series of 12 (EASY) questions and creates the document as you go.The end product is trademark free (other portions of website have restrictions) but you can cut/paste and then customize end product to make it suitable for most organizations. It creates a short/sweet to the point in an easy to use format."
Check out Policy Tool for Social Media I suggest you bookmark this for potential future use if you are not ready to put a policy together--just yet.