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Boards of Directors Responsibilities
Boards of directors responsibilities include financial oversight, as well as determining the best way to handle the resources of the organization. It is a position of high responsibility that requires commitment and dedication. Because of this, it is essential that those interested in joining a committee of directors understand what their job duties actually are before committing to the role.
There are special boards, in addition to the governing board, which concentrate on specific areas, like marketing, fundraising, brand awareness and community connection. These boards are typically comprised of inside and external directors with different perspectives and experience.
The most important aspect for any board member is to make sure that they fulfill their legal obligations, which are usually broken down into three broad categories:
Duty of Care
The legal responsibilities of a board director in this area are making decisions based upon the best interests of the company and making sure that their decisions are in line with all applicable laws and reporting requirements. This includes ensuring that they are well-versed in the legal organizational documents of the organization as well as the board’s bylaws.
A board of directors must also be active in promoting their activities and work to establish positive public relations for their organization. It should be easy for the most passionate and dedicated members of the board to perform this duty, but it may be a challenge for those who aren’t as active.
