No matter the structure or age of the organization, each board has a set of principal responsibilities for its members. They are responsible for ensuring that the assets of the non-profit are properly used, protecting the shareholders’ interests, and demonstrating the utmost respect for governance rules even when they are not in the best interest.

Participation in meetings and attendance

Board members must be capable of attending meetings either in person or via the internet. This includes examining the agenda prior to meetings and actively participating in discussions and decisions. It is also important that board members take part in committee activities to ensure they understand and take part in the activities of the organization.

Financial Management

This includes preparing and re-reading the budget, managing reserve funds, and ensuring that assessments are taken care of. To guide decisions and manage risks the board must be aware of the financial situation of the community.

Policy Compliance / the Governing Documents

This is a crucial responsibility that requires a thorough knowledge of all federal, local, and state laws. This ensures that the community is always in compliance, and that the board is able to make the right decisions in times of crisis. It also means being able to respond to questions from residents and address their concerns, and enforcing rules when necessary.

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