Many owners of condos or co-ops who volunteer for board service soon find out that it’s not an easy task. There are feuds to settle and decisions that affect everyone, and books to balance and finances with a limited margin for error. Many people decide to serve on boards despite the pressure and stress, even though they are volunteering for many years.
As a volunteer board member you are bound by three legal fiduciary responsibilities: obedience, care and loyalty. It means that their www.wouldboard.com/5-cyber-security-myths-that-are-leaving-nonprofits-exposed/ personal or professional interests is always in the back of the interests of the organisation. This also means that they must be able to verify that the organization is in accordance with the law and its mission.
One of the most important of the responsibilities a board can have is to oversee the organization’s activities to ensure that they stay in line with its mission. This requires a thorough understanding of the organization’s programs and services, their participants, and their impact. Monitoring these activities is crucial for a board’s primary responsibilities: strategic planning and financial oversight.
One of the most difficult aspects of being an officer is identifying and stopping patterns of decision-making that could have been established over the long term. Once these patterns are so established, they can become part of the informal culture of the board. They can have devastating implications for an organization. That’s why it’s so important for board members to be aware of these dangers and to frequently review the board manual and other documents to ensure that they’re following the right governance practices.
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