Wake North Carolina Nonprofit - Conduct Policies for Board Members
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FAQ
In a nonprofit, the board of directors holds the highest authority, collectively overseeing the organization. The board sets the strategic direction and ensures the nonprofit's mission is fulfilled. They appoint the executive director or CEO, who manages day-to-day operations. By implementing clear Conduct Policies for Board Members, a Wake North Carolina Nonprofit can promote strong leadership and accountability.
Board policies supplementand cannot contradictthe organization's articles of incorporation and bylaws, as those documents are the bedrock of the organization. Board members vote to approve policies, and once formally approved, those policies are as binding as the organization's bylaws and contracts.
Just as for any corporation, the board of directors of a nonprofit has three primary legal duties known as the duty of care, duty of loyalty, and duty of obedience.
What Does a Board of Directors Do? In general, the board sets broad policies and makes important decisions as a fiduciary on behalf of the company and its shareholders.
What decisions are made by a corporation board of directors include those that guide the direction of the company, represent its shareholders, and oversee the activities of a for-profit or nonprofit entity. A board of directors is established to protect the interests of both the investors and the corporation itself.
Some boards have a give or get policy that allows board members to either give a personal contribution or raise the funds from family and friends to equal the amount of the required gift.
A classic definition of the difference between the board and administration is that the board sets policy and the administration carries it out. In studies of board effectiveness, the best boards are those that focus on broad policy concerns and do not involve themselves in the day-to-day work of the college.
The following are governance policies every nonprofit should have: Conflict-of-interest policy.Budget policy.Executive compensation policy.Whistleblower protection policy.Fundraising policy.Donor privacy policy.Document and records retention policy.
Nonprofit boards should also consider developing policies and procedures for such issues as equal opportunity employment, anti-discrimination, disciplinary procedures, overtime policies, weekend pay, and flextime. In addition, they should consider such issues as drugs, alcohol, smoking, safety, and the dress code.
Important Board Policies to Consider Board Member Agreement.Code of Conduct.Conflicts of Interest.Document Retention and Destruction.Family Educational Rights Privacy Act Policy.Gift Acceptance.Nondiscrimination.Whistleblower.
