Introducing 

Prezi AI.

Your new presentation assistant.

Refine, enhance, and tailor your content, source relevant images, and edit visuals quicker than ever before.

Loading content…
Loading…
Transcript

Board of Directors

Roles and Responsibilities

Who do we serve?

What do we have to offer?

What do we owe them?

Board Purpose

By: Crislove Igeleke, Esq.

The Board of Directors sets values and strategic goals to accomplish the mission of cultivating opportunities for its members.

Board Responsibilities

(formal duties)

  • Provide oversight of organization
  • Management vs. Governance
  • Volunteer boards vs. staff goal setting and execution
  • Fiduciary Duties

My Purpose

(informal duties)

Accountability is key!

  • To give your time and talents to help make the community a better place
  • Bring specialized skills and expertise that could benefit the board’s work
  • To be an enthusiastic advocate for the organization
  • Encourage others to get involved

Duty of Loyalty

Duty of Care

Passion is not enough to get the job done.

  • Practical expectation setting
  • Participation and attendance
  • Focus the issues
  • management of time and resources
  • When in doubt, ask
  • Always keep the purpose at the forefront

Act in the best interest of the organization. Avoid conflicts of interest.

  • Establish a written policy
  • Safeguard internal information/confidentiality
  • Disclose any potential conflict
  • Always have an independent review and vote

Be diligent and act in good faith. Exercise the care an ordinary prudent person would under similar circumstances

  • active participation
  • evaluate reports and review performance
  • ask questions and use your best judgement
  • make informed decisions

Monitoring financials

1. Duty of Care

2. Duty of Loyalty

3. Duty of Obedience

4. Monitoring Financial

5. Record Keeping

Duty of Obedience

Follow the money, and be involved in all aspects of the finances.

  • Ensure a realistic budget is developed
  • Be sure funds are used for the organization's purpose
  • Evaluate and provide feedback on reports

Ensure the organization sticks to its stated mission.

  • Follow governing documents and revise as needed

Compliance

Maintain Good Standing

  • Annual Filings with State and IRS Form 990 (3years)

Adhere to Public Inspection Law

  • Transparency is key
  • Guidestar
  • Fines up to $10k

Adhere to state and local laws

  • No financial contributions to political parties
  • donation receipts >$500

Record Keeping

Take Aways ...

  • Always think of the organization's Mission and Membership
  • Ask question and be thorough in decision making
  • Pay attention to the money, and the records
  • Always adhere to the bylaws
  • Support,contribute, and add value to board

Be familiar with the organizations records including the bylaws, tax exempt status, accounting, donations, minutes. Key responsibility of Secretary.

  • Should be kept in safe location
  • Made available upon request
  • Always be up to date

The work you do outside of the boardroom

is just as – if not more – important as what you do in it.

Thank You!

Business Judgment Rule ( Golden Rule)

A director will not normally be held liable if the director makes a decision in good faith, is disinterested, reasonably informed, and rationally believes the decision is in the best interest of the organization.

*Board Insurance*

Bylaws

Executive Board

Voting

A board member with extra duties defined by the bylaws.

  • Chair(s), Vice Chair, Treasurer, Secretary
  • IRS and State Requirements

The Bylaws are the legal documents that govern the actions that the board. Considered a living documents, and must be amended over time. Describes:

  • directors and executive roles,
  • meeting requirements and location,
  • voting privileges, election process,
  • removal from office, compensation, committees etc.
  • Authority to vote
  • Motion/Second
  • When to abstain from voting
  • Satisfying quorum
  • Document in minutes

(special meetings )

Meetings

Ensure minutes are taken every meeting, record all votes, and circulate for approval.

  • Statutory requirements ( notices, frequency)
  • Review materials beforehand
  • Come prepared, with ideas fleshed out
  • Stick to the agenda
  • Follow up and
  • Ask questions, participate in discussions

Young Nonprofit Professionals Network

Mission

The mission of YNPN

Southern Nevada is to

engage and support future

nonprofit and community leaders

through professional development,

networking, and social opportunities

designed for young people to

get involved in the Southern

Nevada nonprofit community.

Learn more about creating dynamic, engaging presentations with Prezi