Condo and co-op owners who are willing to serve on a board quickly realize that it’s not an easy job. There are disagreements to resolve, decisions to make that have a ripple effect on everyone and balances to be maintained between books. There’s no space for error. Many people opt to serve on boards despite the pressure and stress, even when they’ve been volunteers for a long time.
As a board member who is a volunteer you are bound by three legal fiduciary obligations: obedience, care and loyalty. This means that their personal or professional interest are always secondary to the interests of their organization. This means that they must take steps to ensure that the organization’s compliance with the law and their mission.
One of the most important tasks of a board is to monitor the organization’s program to ensure that they remain true to their mission. This requires detailed knowledge of the company’s programs and services as well as the people who participate in them, and their results and impact. Monitoring and monitoring these activities is critical to a board’s other important duties: strategic planning and financial oversight.
One of the most difficult aspects of being an executive board member is identifying and stopping patterns of decision-making which may have been established over the long term. Once these habits become established that they’re part a board’s informal culture, they can be hard to change and can have devastating effects on an organization. That’s why it’s important for board members to be aware of these dangers and to regularly review the board manual and other documents to ensure that they’re following good governance practices.
https://wouldboard.com/5-cyber-security-myths-that-are-leaving-nonprofits-exposed/
