Fiduciary Responsibility of the Board

This week on #GrantChat, Jo Miller, GPC, #GrantChat Founder and GPA President, is leading us in a discussion about the fiduciary responsibility of the board of directors. 

A fiduciary is someone to whom property or power is entrusted for the benefit of another. Not everyone is familiar with the roles and responsibilities of board members for nonprofit organizations.  Many board members are volunteers who commit significant time to serve the organization.  Often, even dedicated nonprofit board members don’t take the time to learn about their role or to fully comprehend their legal responsibilities, as an individual and the board as a whole. It can be difficult to ask volunteers to take time to learn about their role and grasp what makes a great board member. We will be covering those responsibilities in the chat, and the community will be sharing lots of great resources – including free online courses, blogs, templates and more – on GrantChat.

Question Preview:

Q1: A #nonprofit board and its members individually have three fundamental #fiduciary duties. What are those duties? #grantchat

Q2: What are some of the ways that #nonprofit board members meet their fiduciary responsibility to a #DutyofCare? #grantchat

Q3: What are some of the ways #nonprofit board members meet their fiduciary responsibility to a #DutyofLoyalty? #grantchat

Q4: What are some of the ways #nonprofit board members meet their fiduciary responsibility to a #DutyofObedience? #grantchat

Q5: Which elements of responsibility of a #dutyofcare do board members most often misunderstand or fall short? If you know of an example, please share. #grantchat

Q6: Which elements of responsibility of a #dutyofloyalty do board members most often misunderstand or fall short? If you know of an example, please share. #grantchat

Q7: Which elements of responsibility of a #dutyofobedience do board members most often misunderstand or fall short? If you know of an example, please share. #grantchat

Q8: What are some of the consequences that a board member may face if they breach their fiduciary responsibilities? Please share links to articles or events regarding these types of breaches. #grantchat

Q9: As an employee, consultant, board member or executive director, if you discover a breach by the board or a board member of their fiduciary duty, how do you report or what actions can you take? #grantchat

Q10: What steps should nonprofit board members talk to meet these duties and avoid liability? Please share resources, training, or guides for #nonprofits and their board members on actions for #fiduciaryresponsibility. #grantchat

 

We’re looking forward to having you join @Grant_Chat at 12 Noon ET. Join our Grantchat Facebook Group to get the check in question and to keep the discussion going!

Sponsor: Grant Professionals Association @GPANational 

Host: Jo Miller, GPC @jomillergpc 

Presented: SmartEGrants @smartegrants

©2018 #GrantChat - A Weekly TweetChat of Grant Writing Professionals

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