If you have been following our blog you will know that becoming a board member is not something to enter into lightly. Volunteering Australia recommends that you consider the answers to these questions before committing yourself to a role.
Is the organisation a registered not-for-profit organisation, i.e. an Incorporated Association or a Company Limited by Guarantee?
This is important because it proves legitimacy of the organisation provides a degree of protection. Remember that board members may liable for any debts incurred by the organisation. It’s worth knowing who you’re working with.
Is the organisation able to provide you with the most recent copy of the annual report, audited accounts, mission statement and other relevant documentation?
There are two reasons for this question. First it will show you how organised and well-functioning the organisation (and board of management) really is. Secondly it will tell you what the financial position is and whether or not the organisation is meeting its goals.
Does the organisation have professional indemnity and insurance which covers board members when discharging their duty?
You are volunteering your time, not being paid for it. Sometimes things outside your control will go wrong and leave you liable to put them right. Insurance is vital so your personal assets are safe.
Is there a written position description for you as a board member and does it explain your role as a board member?
A well organised board will have position descriptions prepared for each role within the board. Read them closely so you are aware of what will be expected of you. Are you going to be able to effectively fill the role?
Have you been fully briefed on the governance role of the board and the legal liabilities and requirements of a board member?
No one should be expected to join the board in ignorance of their legal liabilities. You are taking on quite a responsibility and professional boards will make certain you understand the risks and the rewards of the role.
Becoming the member of a board of management is exciting and challenging. Make sure you have chosen the right board to join.
There are no comments yet