Nonprofit Board of Directors
Nonprofits depend on a functioning board of directors to fulfill their goals. They are looking for individuals who are enthusiastic about their mission, have connections to the people they serve, and have experience managing business affairs at one time.
Professionals from all kinds of organizations and companies sit on non-profit boards. It’s an excellent opportunity to build your network, gain new skills and make a positive contribution to the community.
According to an Korngold survey, 78 percent of board members said that their time on a nonprofit board helped them develop more respect for the views and perspectives different from their own. This is especially relevant in the non-profit board environment where decisions are made with limited resources and the board must make prudent financial decisions.
The board members of nonprofit organizations have many legal obligations and responsibilities. These include the Duty to Care and the obligation of loyalty. This means that board members should avoid conflicts of interest and do not use their position to benefit by using the funds of the organization to gain personal benefits. If you own the company that employs the executive director, and the board has a vote to increase the salary of the director, you must abstain because you are in conflict.
Many nonprofits also have permanent (sometimes referred to as “standing”) committees that deal with ongoing issues or other specific issues that arise. These committees are run by board members who are required to disclose any conflicts of interests to other board members.