A nonprofit’s governing body, officers, and key employees are responsible for defining and upholding the organization’s mission, vision, and values, and for providing overall leadership and strategic direction to the organization.
Each nonprofit board should:
- Ensure that the organization is adequately resourced to carry out its mission;
- Advance the ethical and legal integrity of the organization and ensure accountability and good governance practices;
- Ensure that activities and expenses align with mission focus;
- Actively set and implement policies;
- Provide oversight, direction, and moral support for the chief executive in order to further the goals of the organization; and
- Evaluate its own effectiveness as a governing body and as representatives of the community in upholding the public interest served by the organization.
Members of the governing body need to be aware of the legal fiduciary duties related to their work: the duty of care, the duty of loyalty and the duty of obedience.
Principles & Practices Assessment
Find out if your organization is meeting best practices in Governance, based on Principles & Practices for Nonprofit Excellence in Colorado.