Roles & Responsibilities
What is the primary role of a board member?
To provide governance, oversight, and strategic direction.
What document outlines how a board operates?
Bylaws.
True or False: Board members should keep confidential information private.
True
What financial document is typically approved annually by the board?
The Budget
The board's decisions should always support what?
The organization's mission and vision.
What is a quorum?
The minimum number of board members required to conduct official business.
What is a conflict of interest?
A situation where personal interests may influence professional decisions.
What committee often reviews financial reports and budget performance?
The finance committee
What is the difference between governance and management?
The board governs and provides oversight; staff manage daily operations.
What record documents motions, votes, and actions taken during meetings?
Meeting minutes.
Which fiduciary duty requires board members to make informed decisions?
Duty of Care.
Why should board members regularly review financial statements?
To monitor the financial health of the organization.
Who does the board typically hire, evaluate, and support?
The CEO, Executive Director, or chief executive.
What is the purpose of an agenda?
To organize topics and guide the meeting.
Which fiduciary duty requires board members to put the organization's interests first?
Duty of Loyalty
What is one important role of the board during strategic planning?
Setting long-term goals and organizational direction.
After a vote is approved, what should board members do even if they disagreed with the decision?
Support the final board decision and maintain a unified position.
Why is regular attendance important for board members?
It ensures informed participation and effective governance.
Name the three fiduciary duties of board members.
Duty of Care, Duty of Loyalty, and Duty of Obedience.
During a financial crisis, what is one key responsibility of the board?
Providing financial oversight and making strategic decisions for sustainability.