Board Membership: What Does it Mean?
Non-profit board membership is a unique opportunity which can provide great personal and professional fulfillment, while providing a positive impact within your community. However, board membership does not come without significant responsibility. Non-profit boards are responsible for creating and maintaining governance structure for a non-profit agency. Governance provides strategic leadership to a non-profit organization by setting direction, making policy and strategic decisions, overseeing and monitoring organizational performance, and ensuring overall accountability. In addition, board members have a “fiduciary responsibility” to the non-profits they serve. “Fiduciary responsibility” means to treat the resources of the non-profit as a trust and ensure that they are used in a manner that is reasonable, legal, and appropriate. The minimum requirements to exercise fiduciary responsibility include: the adoption of appropriate governance policies, a defined financial budget and policy to guide volunteers and staff, the creation of guidelines to report the fiscal state of the organization, and the engagement of a third party to independently review the organization. BENEFITS TO JOINING BOARDS Connections : You will collaborate and form relationships with other board members, many of whom may not be in your current professional network. Exposure : You will help manage issues and situations that impact the non-profit agency, allowing you to gain knowledge and experience.
Commerce Trust Company
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