VIEW VIDEO: The Board Fiduciary Duty of Loyalty
This is the second 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 Loyalty.
This duty requires board members to place the organization’s interests first when acting on behalf of the organization and disclosing possible conflicts of interest. Board members’ own personal or business interests should not be their primary concern when sitting at the board table.
Make sure you’re familiar with your organization’s conflict of interest policy, and that you’re working in the best interests the organization you’re serving.
Next in our series, we cover Duty of Obedience. VIEW VIDEO.
See the first session in our series, the Duty of Care. VIEW VIDEO.
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