This due diligence checklist should assist Boards of Directors, Nominating Committees, and other bodies in screening potential Board member nominees. This checklist is merely a tool to be used as one part of a broader process. It is not intended to replace or to reduce the scope of the overall evaluation process.
Illinois Checklist Evaluation of Potential Board Member Nominees
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FAQ
The Board of Directors shall be elected by written ballot or acclamation at the annual meeting by majority of a quorum of the general membership of the agency.
It is important for a board to ensure that its directors are capable and qualified to lead and contribute towards the company's growth. An effective board evaluation would result in constructive changes to the dynamism of the board, which would most often involve changes to board composition (e.g. succession planning).
A review of the board's agendas is a good way to measure board effectiveness. If the same items are appearing on the agenda with no resolution, it may be an indication that the board lacks the necessary expertise to deal with the issue. Boards should explore the frequency of information exchanges with managers.
Board evaluations are aimed at enhancing the overall performance of the Board and dealing with identified issues in a constructive way. Their purpose is not to criticise any particular Director but rather generate meaningful feedback and actions for improvement.
Consider the structure and effectiveness of the four most critical board committeesexecutive, audit, compensation and nominating. Understand what time constraints and other responsibilities board members have beyond the board and determine if there are inherent issues as a result of these other commitments.
What Does a Good Board Member Look Like?Expertise in a specific area which can help your corporation.Leadership and management experience, especially in related businesses.Commitment to the business.Time and energy to devote to board duties.Integrity and lack of a conflict of interest.More items...?
The 9 best attributes of effective board directorsEmotional Intelligence.The Ability to Commit.Equanimity.The Ability to Prepare.Being Open-Minded.Being Mindful of Your Impact.Bravery.Being Dispassionately Passionate.More items...?
Nonprofit boards want directors who fulfill at least one of the three W's Work; Wealth; Wisdom.
10 Must-Ask Interview Questions for Board MembersWhat do you know about our organization?What about our mission excites you?What experience do you have related to our mission?How much time can you commit to the organization?Who in your network can you involve in the organization?
Here are my favorite characteristics of an outstanding board memberPre-existing passion for the cause.Eagerness to participate at every meeting.Willing to prepare ahead for meetings.Anxious to serve on committees.Ability and propensity to give above average financially.Strong desire for stewardship to others.More items...
