On BOARD® is the Arts & Business Council of Chicago’s unique board governance and leadership training program that prepares individuals who are ready to engage as active board members of arts, cultural, and creative nonprofit organizations. Individuals who successfully complete the full program demonstrate an understanding and commitment to upholding high standards of nonprofit board governance.
Legal & Fiduciary Responsibilities of Board Members is part 2 of 6 in the full On BOARD® curriculum. To learn more about the full program curriculum, click here.
- General roles and responsibilities of nonprofit board members
- Key fiduciary duties of nonprofit board members
- Duty of Care, Duty of Loyalty, Duty of Obedience
- Liability and protections for board members, the importance of Directors & Officers insurance
- Additional considerations for public charities and private foundations with 501(c)(3) status
- Important reporting obligations at the state and federal level
Presenter: Patricia S. Marx / Associate / Quarles & Brady, LLP