Nonprofits are dependent on a functioning board of directors to carry out their mission. They are looking for individuals who have a passion for their mission, have connections with those they serve and have experience overseeing the business affairs at some point.

Professionals from all kinds of organizations and companies sit on boards of non-profit organizations. It’s a great chance to build your network, learn new skills, and contribute to the community.

According to an Korngold study, 78% of board members said that their involvement on a non-profit board had helped them gain an understanding of other views and perspectives that are different from their own. This is crucial in a non-profit board environment where decisions how to improve board governance have to be made with limited resources, and the board has to make sound decisions regarding financial management.

The board members of nonprofit organizations have a number of legal obligations and responsibilities, including the duty to care and the duty of loyalty. This means that board members must stay clear of conflicts of interest and do not misuse their position by utilizing the funds of the organization to benefit themselves. If you own the company that employs the executive director and the board is voting to increase the amount of money paid to the director, you must abstain because you have a conflict.

Many nonprofits also have permanent (sometimes referred to as “standing”) committees which deal with ongoing issues or other specific needs when they arise. These committees are staffed with board members that must report any potential conflicts of interest to the other board members.