Chapter 13Board Governance and Oversight
Boards of Directors or Trustees are responsible for providing guidance and oversight in nonprofit and commercial organizations. In the world of commercial organizations, the board also has a particular responsibility to protect investor interests as measured in profits. A nonprofit or NGO board also has the responsibility to protect assets, make prudent investments, approve an annual budget, secure an independent audit, and otherwise provide prudent financial oversight. But, they do it with a special twist, their responsibility is to maintain the organization’s focus on mission.
The initial purpose for which a commercial organization has been created is likely to grow, change or lose meaning as time passes ...
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