6 Tips for Serving on a Nonprofit Board of Directors
1. Current Board Makeup/Size/Dynamics
- How large or small is the Board of Directors
- Are there diverse skill sets and backgrounds serving?
2. What Makes you an Ideal Board Member?
- Know what you bring to the table.
- Be confident in your professional background and business sense that will make you a critical part of the team.
3. Business and Financial Model
- How is money raised and spent?
- What percentage of the budget is spent on programs?
- How much money is being spent on fundraising initiatives?
990 Report and Audit Financial Statements
- Ask to see recent 990 Reports and Audit Financial Statements.
- The Board of Directors has a fiduciary responsibility, you want to be certain the organization is in a sound financial position.
4. Directors and Officers Insurance
- Is there a Directors and Officers Insurance Policy and is it up to date?
- What is the amount on the policy?
- Does the organization have a conflict of interest policy and a duality of interest policy? These are important questions to ask.
6. Recruitment & Orientation
- How are new Directors recruited and orientated to the role?
- Are their Defined Roles and Responsibilities, Governance Manual and/or Board of Directors Guidelines?
- What are the Board Committees?
- Will you be required to serve on a committee?
Would you like to discuss this topic further? Contact us! We would be happy to meet and have a detailed discussion on this important topic. Thank you for considering service to the nonprofit community.