White Paper

10 Pages
  • 10 Pages

IRS Guidelines for Good Governance for 501(c)(3) Organizations: Basic Functions of a Board

 

Review common guiding principles for effective boards.

The board of a charity is responsible for directing the affairs of the organization in accordance with its mission. In practice, the board delegates responsibility for managing the day-to-day activities of the organization to managers; however, fiduciary duties cannot be delegated and, therefore, the board retains oversight responsibility for matters that have been delegated. This white paper discusses why board service can no longer be viewed as just an honor – the oversight responsibilities of directors are real.