The board of directors must to be sure that the procedures and policies they’ve formulated are working. This includes having clear roles and responsibilities, being clear about who’s in the room and encouraging active engagement. It is also essential to have a robust performance evaluation of the board.

Many boards have been compelled to restructure their structures, improve financial reporting, and improve their compliance in the wake of scandals. But if they stop there, they’ll miss an opportunity to transform their boards into true powerhouses of governance.

The success of a nonprofit organization is dependent on a board that has the proper structure, procedures and expertise. But, these aren’t easy to implement. Especially for small non-profits, that are already strained by limited resources and time. But by adopting best practices, a nonprofit board can be more well-informed and secure, as well as more cooperative and driven.

Boards must, for instance make sure they are making the most of technology to meet their strategic goals and to ensure transparency. This helps them identify any risk that could be a concern, and helps the board to determine the best way to manage risk in accordance with.

Another excellent governance method is to keep shareholders on your side. This means identifying and responding to shareholder concerns in the early hours, before proxy season.

Finally, independence is a key governance principle. It ensures that board members aren’t in a position to favor their personal interests over those of the company. It also increases objectivity and impartiality when making decisions, and offers new perspectives for strategic decision-making.

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