You’ve Become a Board Member for a Nonprofit. Now What?
Are you considering serving on a nonprofit board of directors but aren’t sure of your legal duties? Attorney Sarah M. Jolly recently broached that subject in her article published in the Fall 2016 edition of Network Magazine.
In her article, Sarah addresses the three duties of board members – the duty of care, the duty of loyalty, and the duty of obedience – and provides an overview of the obligations of each duty. In a nutshell, these duties require board members to ensure that the nonprofit’s assets are used in a prudent manner, to act in the best interests of the organization, and to follow the mission of the nonprofit, including any laws that are applicable to it.
As Sarah points out, “While serving on a board is a rewarding experience with countless benefits, members must remain cognizant of their duties and responsibilities to the organization.” A member of the firm’s Business Services group, Sarah provides legal counsel to for-profit and nonprofit clients in the areas of general business law and real estate.
You can read Sarah’s full article in the latest issue of Network Magazine.