Tuesday, July 13, 2010
Is Your Board Following Best Fiduciary Practices?
As every reader knows, the board members of a nonprofit organization are fiduciaries, personally responsible for the activities, resources and well-being of the organization. There are many great resources online about better boards, better policies, etc., but in this space, I want to go over some key components of current best thinking about boards as fiduciaries.
Have Turnover
A permanent board is not a good idea, and nearly all accrediting bodies require that boards have terms and that new members come on with some regularity. This is challenging for many organizations, but it’s essential to have new perspectives on your governing body. Train your board regularly about your organization—don’t just have one night’s orientation each year.
See full Article.