On BOARD® is the Arts & Business Council of Chicago’s unique board governance and leadership program that prepares individuals who are ready to engage as active board members of arts, cultural, and creative nonprofit organizations.
On BOARD: Legal and Fiduciary Responsibilities + Ethical Considerations for Board Members
What are the spoken and unspoken responsibilities of board members? How can board members enact agency to respond to today’s major issues in the nonprofit sector?
Serving as a board member can be one of the most challenging and rewarding volunteer assignments. While appointment or election to a board is an honor, board members have significant legal and fiduciary responsibilities that require time, skill, and resources.
In this session, we will cover board members’ general roles and responsibilities and key fiduciary duties, liability and protection for board members, and corruption and cybercrimes.
- General roles and responsibilities of nonprofit board members
- The Business Judgment Rule
- Key fiduciary duties of nonprofit board members
- Duty of Care, Duty of Loyalty, Duty of Obedience
- Liability and protection for board members, the importance of Directors & Officers insurance
- Corruption and Cybercrimes – Bribery, Fraud, Extortion Considerations
Presenter: Shermin Kruse, Law Professor at Northwestern Pritzker and Negotiation Consultant