Being a member of the board of directors can provide various benefits to both organizations and individuals. It’s an excellent way to get experience in directing and making decisions, build a network and make connections with philanthropists and other community leaders. It also helps to advance your career.

Whether they are for-profit companies or not-for-profit organizations Boards of directors must be guided by the rules and regulations that govern their work. It is vital that individuals who wish to become board members understand these guidelines and their responsibilities.

Board members should be engaged and active, regularly attend meetings and review documents such as financial statements and strategic plans. They must also be able to ask good questions. They must be able to determine the organization’s long-term and shorter-term goals, as well as its resources and conflicts of interest.

In the case that a company is public, board members must be ready to assume the leadership role and be able to react swiftly in the event of a crisis, to meet their fiduciary obligations and good governance standards. A board should also maintain a relationship with its local community, be aware of the demands and needs of that community and be involved in outreach activities.

Boards of not-for-profit organizations should be focused on their stakeholders. They typically include the people they serve, the businesses that support them, as well as the elected officials and government agencies that regulate them. They also include donors that contribute financial resources to their organizations. They are also responsible to set up systems that stop embezzlement and fraud, and for developing relationships with other community groups.

www.wouldboard.com/5-cyber-security-myths-that-are-leaving-nonprofits-exposed/