The First 3 Things You Want to Know Before Serving on a Board

Being asked to serve as a board member can be flattering. However, being a board member also increases your personal risk of financial harm. There are dozens of questions to be asked, but the first three answers that I think you should hear before you decide to join the board would be:

1.      What does the organization stand for, what are they trying to do and do your personal beliefs align with the organizations?

2.      Is the organization in any trouble, being sued, not able to pay their bills, etc.?

3.      How much time is serving on the board going to take?

There are other questions, such as what the director’s insurance covers, and what Act is the group incorporated under? But, if you get positive answers to the first three questions then you can express your interest and have further discussions. If the answers to any of these three questions give you cause for concern, then turn down the opportunity.


No comments yet.

Leave a Reply

Painless Financial Training Group Inc. with Debi Peverill

Understand Financial Stuff, Painlessly