Roles, Responsibilities, and Best Practices for Nonprofit Boards, Quizzes of Business Management and Analysis

Download Roles, Responsibilities, and Best Practices for Nonprofit Boards and more Quizzes Business Management and Analysis in PDF only on Docsity! TERM 1 Primary Responsibilities DEFINITION 1 Governance -Oversee/Evaluate Review/MonitorLeadership In partnership with CEO and management,guide the mission and directionStewardshipEnsure dedication to, and use of assets for,benefit of public. TERM 2 Duty of Care DEFINITION 2 When performing their duties, board members,senior management and members of committeesmust use the degree of care, skill, caution anddiligence that a prudent person would use inhandling corporate affairs. TERM 3 Duty of Loyalty DEFINITION 3 Board members and senior managementmust always perform their duties in goodfaith with the best interests of theorganization in mind. T TERM 4 Compensation DEFINITION 4 Board members of nonprofit organizations areNOT usually paid for their services. But thebylaws should state whether or not any memberof the nonprofit organization will becompensated. TERM 5 Governing Board DEFINITION 5 A vehicle for volunteeringto govern.Answers the questions:1. Where should our organization be headed over thelong run? 2. What is our organization now and in the near-term? 3. How well is our organization performing:programmatically, financially, administratively? TERM 6 Average Size of Board DEFINITION 6 19 Members TERM 7 Median Size of Board DEFINITION 7 17 Members TERM 8 Board Officers/Executive Committee DEFINITION 8 Chair or President; larger institutionsmay have both Vice- Chair or Vice-President Secretary Treasurer TERM 9 Model Committee Structure DEFINITION 9 Governance, Planning and Program Development, Performance Oversight, and External Relations. TERM 10 3 Rules of Board Communication DEFINITION 10 1. Timely": we don't like surprises.2. Transparent": let me know as clearly and conciselywhat the issue is and don't spin me.3. Relevant": I don't need to know every little detail ofyour day-to-day operations but we also do need to beapprised of what is important.