Oregon Board Member Agreement
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How to fill out Board Member Agreement?
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FAQ
A board of directors agreement is an agreement that outlines the roles and responsibilities of the members of the board of directors of a company and secures membership of a new board member. The agreement isn't a legal document, but it does assert a new member's commitment to the organization.
To avoid such confusion and to ensure awareness and understanding of their responsibilities as a Board member, a Board member contract should be implemented to address these concerns. The purpose of a Board member contract is to officially outline and codify the expectation and responsibilities of each Board member.
The simple answer is that most authors agree that a typical nonprofit board of directors should comprise not less than 8-9 members and not more than 11-14 members. Some authors focusing on healthcare organizations indicate a board size up to 19 members is acceptable, though not optimal.
I am making a good-faith agreement to do my best and to raise as much money as I can. I will actively promote XYZ, encourage and support its staff, and work in concert with the steering council. I will attend board meetings, be available for phone consultation, and serve on at least one XYZ committee.
Any number of offices may be held by the same person unless the articles or bylaws provide otherwise, except that no person serving as the secretary, the treasurer, or the chief financial officer may serve concurrently as the president or chair of the board.
Type of organization: For-profit organizations typically offer monetary compensation to their board members. Board members for nonprofits might work free but receive reimbursement benefits for travel. Industry: Because there are no specific compensation requirements, payment can vary widely among industries.
If your organization is a mutual benefit corporation or religious and you're not planning to apply for 501(c) status, you only need one board member. If your organization is a public benefit corporation or you'll be applying for 501(c) status with the IRS, you'll need at least three board members.
A board member agreement may list specific expectations for board service. Commonly found items include fundraising and personal giving, activity in committees, attendance in meetings, and promises to keep confidential issues confidential.
The 2023 Legislature removed Oregon's prohibition against paying school board members. Oregon school board members can now receive up to $500 a month. House Bill 2753 went into effect July 18. Boards can begin paying directors as soon they make proper budget allocations and pass a resolution.