No matter how old or structure, every board has a set primary duties. These include ensuring that the assets of the nonprofit are used prudently and with care and protecting the interests of shareholders, as well as demonstrating loyalty and conformity to the governance rules (even when they’re not in the best interests of a specific person).
Participation in meetings and attendance
Board members must be capable of attending meetings in person or online. This includes examining the agenda prior to meeting, and actively engaging in discussions and taking decisions. It is also crucial that board members participate in committee activities to assist them in understanding and be involved in the work of the organization.
This includes preparing and reviewing budgets, managing reserve funds, and making sure that assessments are collected. The board needs to have an understanding of the financial situation of the community to guide decisions and manage risk.
Policy Compliance / the Governing Documents
This is an extremely important job that requires an in-depth understanding of all local, federal and state laws. This ensures that the community is always in compliance and that the board is able to make the right decisions in a crisis. It also means that you must be able to address residents’ questions and concerns, and enforce the rules when necessary.