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Understand your responsibilities when it comes to fiduciary duty for directors of not-for-profit (NFP) organizations.
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Your fiduciary duty is perhaps one of the most fundamental responsibilities you will have as a director on the board of an NFP. It requires that, at all times, you act in the best interests of the organization you serve. But why do directors have this fiduciary relationship with their organizations and how is it different depending on the type of organization you serve?
20 Questions Directors of Not-for-Profit Organizations Should Ask about Fiduciary Duty examines key differences between not-for-profits that are incorporated, not incorporated and established as trusts, as well as what is involved in the role of director and what you should know before accepting such a position.
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