Nonprofit boards are crucial to the success of any organization. They are responsible for overseeing the financial aspects of the organization and ensuring that the nonprofit has enough resources to reach its goals, and also ensuring that the organization is operating in compliance with the law. They also play an important role in fundraising initiatives. Board members have a fiduciary responsibility to treat the assets of the non-profit as if they were their own. This means that they should not make decisions in the name of personal gain or favoritism, and they must be transparent in their dealings with the organisation.

Nonprofits should look for board members who possess these traits:

Passion: Board members should be passionate about the mission of your organization and feel a a sense urgency to act. If your board isn’t passionate, it will www.twoboardroom.com/guide-to-managing-virtual-board-meetings/ struggle with productivity.

The commitment of a successful nonprofit requires the commitment of its volunteers and staff. Your board should be willing to put in time and money as well as energy.

Skills: A good board of directors will possess expertise in areas such as governance as well as strategic planning and oversight of the organization. It should be able identify potential talent and find people to fill leadership positions.

A nonprofit should have an anti-conflict of interest policy, and all of its members must adhere to it. Failure to adhere to this policy could lead to penalties and fines from the IRS or the state-level “Sunshine Laws.” It is because of this that many nonprofits require their board members to sign agreements concerning conflicts of interest.