Nonprofit boards are vital to the success of any organization. They are responsible for the oversight of finances, ensuring that nonprofits have the resources to accomplish their goals, and also ensuring that they adhere to the legal framework. They also play a role in fundraising efforts. Board members also have a fiduciary responsibility to treat the assets of the non-profit as if they were their own. This means they should not make decisions based recommended you read on the interests of their own or on favoritism and must be honest in their dealings with the organisation.
Nonprofits should search for board members who have the following qualities:
Passion: Board members must be passionate about your nonprofit’s mission and have a sense of urgency to take action. If your board isn’t passionate and is not passionate, it will be unable to improve its productivity.
Engagement: To be successful the nonprofit organization requires the commitment of its volunteers and staff. Your board must also be willing to invest time, money, and energy.
Skills: A reputable board of directors should have the ability to handle areas like governance as well as strategic planning and oversight of organizational structures. It must be able to spot talent and recruit people for leadership posts.
A nonprofit must have a policy regarding conflicts of interest and all of its members must adhere to the policy. Infractions could result in penalties from the IRS and state-level «Sunshine Laws.» This is a major issue and that’s the reason many nonprofits require their board members to sign conflict of interests agreements.