A board of directors employs various documents to carry out its duties. They cover legal requirements as well as internal guidelines and policies. To make effective decisions, a board should have access to all and precise information.

It is crucial that a non-profit organisation has the correct documents for its board to ensure success. Without the proper documents the board could get overloaded with administrative tasks and lose focus on growth strategies. To ensure that your board is meeting its fiduciary duty of accountability, it’s important to keep these five crucial documents at hand:

Board papers are documents that board members study prior to and during a board meeting. They are crucial because they provide background and context that assists boards in making informed decisions. To be effective, board documents must be concise, clear and complete – a blend https://swrc2.info/ of the three C’s of communication:

Financial Statements

Board members need a quick and easy overview of the company’s financial health to determine what’s owned, how much money is on hand and what expenses are authorised by the board. The board needs to be familiar with the company’s financials in order to ask the pertinent questions at meetings, and supervise the CEO’s financial accountability.