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At the recent Royal Treasure Symposium, Joyce Godwin, governance expert and a member of the board of Royal Treasure, answered questions about serving on a board.
If
asked to serve on a board, you should request a packet of information about the organization, including the following:
-Mission, vision and goals
-Financial statements
-Job description for a director, including term limits of three years is good
-Directors and Officers Insurance policy (D&O)
-By-laws, including indemnification language
Questions to ask at an interview:
-What does the board expect that you can contribute? Do they just want your name, money or connections? You do not have to take the position and may serve them better if you are
not on the board.
-What kind of financial support is expected from board members? Ideally, you really believe in the organization and it would become one of the top 3-5 of the
organizations to which you contribute.
-Who are the current board members, their skills and their ages?
-Is there a governance committee?
-Is there a performance review of board
members and the board as a whole?
-What is the state law regarding phone meetings and voting by FAX or e-Mail?
-If the CEO weren't here tomorrow, how would the board handle the
succession? Is there an interim plan?
-If I serve, can I get a board member to mentor me/show me the ropes?
After you have served a year, ask what the board feels you have contributed. Tell them what you would like to do in the coming year and notify them if circumstances in your personal
life have changed which make it difficult to continue to serve.
For further information see the Royal Steward article on this subject in
Vol. 1 No.3, August 1998.
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