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.
New Jersey Checklist Evaluation of Potential Board Member Nominees
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He shall be at least a college graduate or have sufficient experience in managing the business to substitute for such formal education; 2.1. 3. He shall be at least twenty one (21) years old; 2.1.
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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.
Some boards will decide to evaluate their performance on an 'as needs' basis, while others will prefer to conduct a major review every two or three years. Many boards perform an annual or even a semi-annual review.
Assessments should include a review of what the executive director achieved, how objectives were achieved, and whether the director modeled the core values of the organization. The board should form the criteria for evaluating the executive director around the needs and goals of the organization.
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.
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.
