The Oregon Board Member Agreement is a legal document that outlines the rights, responsibilities, and obligations of individuals who serve as board members for various organizations in the state of Oregon. This agreement serves as a guiding framework for board members and ensures clarity and accountability in their roles. One of the key aspects of the Oregon Board Member Agreement is defining the scope of authority and decision-making power granted to the board members. It outlines the specific areas in which the board members are expected to contribute, such as strategic planning, policy development, financial oversight, and major decision approvals. This agreement ensures that the board members understand their role in shaping the organization's direction and that their actions align with the organization's mission and goals. In addition to the general functions, the Oregon Board Member Agreement may also include specific clauses related to the unique needs and structure of the organization. For instance, if the organization operates in a specific industry or sector, the agreement may include provisions pertaining to industry regulations and compliance. Similarly, if the organization is a nonprofit, the agreement may address fundraising, donor relations, and fiduciary responsibilities. Furthermore, there can be different types of Oregon Board Member Agreements, varying based on the organization's legal structure and purpose. Here are a few examples: 1. Nonprofit Board Member Agreement: This type of agreement is designed for board members serving nonprofit organizations in Oregon. It may include provisions related to governance, fundraising, volunteer engagement, and accountability to the organization's mission and the community it serves. 2. Corporate Board Member Agreement: This agreement caters to board members of corporations registered in Oregon. It may focus on strategic decision-making, financial management, risk assessment, and shareholder interests. 3. Governmental Board Member Agreement: Public sector organizations, such as state agencies or commissions, often have specific board member agreements. These agreements may cover aspects like public policy formulation, regulatory compliance, budget oversight, and public engagement. It is essential to tailor the Oregon Board Member Agreement to suit the organization's unique needs while adhering to legal requirements and best governance practices. Engaging legal professionals specializing in nonprofit or corporate law can help draft a comprehensive and effective board member agreement that protects the organization's interests and promotes successful board governance.
Oregon Board Member Agreement
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Board member contracts are not mandatory, although having them in place is best practice and can help ensure Board members are aware of their responsibilities, what is expected of them, and what they expect from the organization to enable them to more effectively lead.
Oregon law allows state board and commission members to receive statutory per diem compensation and reimbursement of certain expenses for each day or portion thereof which they spend time performing board or commission duties.
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.
Board members typically receive compensation for their service, but similar to independent directors, they often don't earn a salary or hourly wage. Instead, they often receive compensation via retainer fees, stock options, stock grants, and more.
Typically, you'll have to follow these basic steps when adding a new board member: Hold a meeting of the board of directors. Draft a resolution to add a member. Make sure you have a quorum (the minimum number of directors who must be present to hold an official vote, which should be specified in your bylaws)
How much do board members make? The average salary for a board of directors member is $78,336 per year . This amount can vary depending on factors like the size of the organization and its industry. Many board members receive compensation as a base retainer fee rather than hourly wages.
How much does a School Board make in Beaverton, Oregon? As of , the average annual pay for a School Board in Beaverton is $102,226 a year. Just in case you need a simple salary calculator, that works out to be approximately $49.15 an hour. This is the equivalent of $1,965/week or $8,518/month.