Nonprofit boards play a crucial role in connecting an organization and its community. The board determines the goals, values, and mission for the non-profit. It also has a crucial oversight and accountability obligation. The board is responsible for monitoring the organization’s progress in fulfilling its mission and reaching its goals. It should devise fundraising and organizational strategies and ensure financial oversight.
It must be vigilant in monitoring the programs and services that are offered, the impact on people and the results. This requires ongoing monitoring that will allow the board to make changes as necessary. Financial oversight involves the review and approval of budgets, making sure the organisation is operating within its means and that it complies with all financial regulations. The board has a fiduciary duty to treat the assets of the business as if they were their own and avoid an investment that is risky.
Fundraising is a big element of the duties of the board and it’s often the responsibility of individual board members to take on the task. It is helpful for the board to have regular, reliable reports on the success and progress of various fundraising campaigns to aid them in making better decisions.
Many boards delegate management responsibilities to an internal leader. This is usually the chief executive officer (CEO). The Board is responsible for finding this person, set pay and conduct annual evaluations for the CEO and board members. The Board should also organize training and orientation programs for all board members to help them in their development.
www.twoboardroom.com/nonprofit-boards-role-in-human-resource-management/
by WordPress