Nonprofit boards are groups of individuals who work together to oversee the organization. They do this by having regular meetings with the intention of setting strategy and direction, ensuring the availability of resources, and providing oversight. Boards may also engage in philanthropic activities such as fundraising and providing professional services pro bono to the non-profit.
Most states have a minimum of board members that a non-profit organization must have. Some require that the board members be diverse in order to maintain their tax-exempt status. The requirement for diversity isn’t intended to be a partisan issue however, it should be based on having no conflicts of interest or other reason that would prevent a person from serving on a nonprofit board.
The board’s duties include appointing the committees, deciding on the CEO and paying him as well as establishing the budget and managing legal matters, examining and approving financial reports, making decisions about the compensation of senior staff and creating the strategy. Boards also represent an organization in public forums, such as discussions with government agencies, donors and the media.
In addition to appointing committees and compensating the CEO and establishing the budget, boards also have to perform due diligence on potential donors, ensuring that they are genuine and can be counted on to donate to the https://pleaseboard.com/ nonprofit. They should also review and approve financial reports and keep a good record of every meeting. A well-functioning board will be committed to its duties and work as a team to succeed.
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