Roles & Responsibilities of Board of Directors

Roles & Responsibilities of Board of Directors thumbnail
Roles & Responsibilities of Board of Directors

For-profit and non-profit organizations may have a board of directors. The primary difference between a non-profit and a for-profit board is that members of the for-profit board are often compensated. However, the duties of the boards are similar.

  1. Strategy

    • The strategic plan is set by the board in accordance with the organization's mission.

    Financials

    • The board is also responsible for ensuring that the organization's finances are sound and that it has a fiduciary responsibility to the organization's shareholders or donors.

    Performance Review

    • The board gives the executive director or head of the organization a job performance review, providing constructive feedback and working with the organization's leader on creating a development plan for improvement.

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    • Each board member is an ambassador of the organization and is expected to speak positively about the organization within the community.

    Succession Planning

    • If the head of the organization leaves, the board is responsible for finding a suitable replacement.

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  • Photo Credit Image courtesy of Microsoft Office online

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