Connecticut Nonprofit - Conduct Policies for Board Members
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Table of contents Failing to Understand Fiduciary Duties. Failing to Provide Effective Oversight. Deference to the Executive Committee, Board Chair, or the Organization's Founder. Micro-managing Staff. Avoiding The Hard Questions. Insufficient Conflict Management. Lack of Awareness of Laws Governing Tax-Exempts.
A conflict of interest exists when a member of the nonprofit board has a personal interest that may influence them when making decisions. While the law focuses primarily on financial interests and provides some guidelines, nonprofit organizations contend with various potential and perceived conflicts of interest.
Top 10 Nonprofit Board Governance Mistakes Failure to Understand Fiduciary Duties. ... Failure to Provide Effective Oversight. ... Deferring to a Founder. ... Failure to Stay in Your Lane. ... Failure to Adopt and Follow Procedures. ... Failure to Keep Good Records. ... Lack of Awareness of Laws Governing Nonprofits.
?There are the obvious ones, like 'Thou shalt not steal from the building's funds' ? which unfortunately some board members still violate ? to the slightly-less egregious, like engineering board votes to benefit your own interests, such as those involving contracts with a vendor that you control ? which is often okay, ...
Just as for any corporation, the board of directors of a nonprofit has three primary legal duties known as the ?duty of care,? ?duty of loyalty,? and ?duty of obedience.?
Refusing to accept or complete tasks. failing to disclose conflicts of interest. monopolizing board discussions, or simply not participating in the conversation at all. behavior disrespectfully toward the board president and other members.
Ethical Behavior for Board Members Is Culturally Driven Ethical behavior means acting ing to what society, individuals, and businesses generally accept as good values. Good values include traits like honesty, dignity, diversity, fairness, and respect for individual rights, to name a few.
Board members should be as open as possible about all the decisions and actions they make. They should give reasons for their decisions and restrict information only when the wider public interest clearly demands it. Honesty.
When you agree to serve on a nonprofit organization's board, you assume a number of responsibilities to the organization and a series of fiduciary duties (legal obligations) on its behalf. Specifically, a director is obligated to fulfill three primary fiduciary duties ? loyalty, care and obedience.
This Code is intended to focus Board Members on areas of ethical risk, provide guidance to help them recognize and deal with ethical issues, provide mechanisms to report unethical conduct, foster a culture of honesty and accountability, deter wrongdoing and promote fair and accurate disclosure and ?nancial reporting.