WATCH VIDEO; The Board Fiduciary Duty of Care
This is the first session in our 3-part Board Fiduciary Duties Series. We hope this will support you as a board leader in helping the organizations you serve to thrive.
Folks who are new to board service, or even folks who have been serving for decades, often wonder exactly what their job as a board member is.
It’s pretty simple, really. In this three-part series, we’ll cover the three fiduciary duties of nonprofit board members:
- Duty of Care
- Duty of Loyalty
- Duty of Obedience
Today, we’ll look at Duty of Care.
This duty requires board officers and directors to exercise ordinary and reasonable care. This includes simple actions like reviewing board materials in advance of meetings, and broader actions including making decisions with the organization’s best interests in mind and showing honesty and good faith when acting on behalf of the organization.
Basically, be prepared, be honest, and do your best for the organization you have agreed to serve. Next in our series, we cover Duty of Loyalty.”
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