There are a few questions that you, as a community foundation board member, can consider to help ensure you’re meeting your foundation’s needs. To start with, what keeps you up at night? Are you worried about your foundation’s level of spending each year? Or perhaps you feel that your foundation is taking on unnecessary risks in its efforts to support the overall mission? Or maybe you’re concerned about whether you have adequate in-house resources to help you fulfill your fiduciary responsibilities? Ensuring you are up to date on best practices for fulfilling your duties is critical.
In this short article, we provide guidance on three areas that are key to your organization’s success:
- Board engagement
- Managing spending
- Risk management