As an entity that exists for the primary benefit of shareholders, the corporate world operates very differently from the nonprofit world. The rules and regulations are different, and corporate and nonprofit organizations are taxed differently. Yet, certain areas of the…
Media reports about cybercrime are creating an awareness of the need for businesses to protect personal data that they collect during the course of business. Cybersecurity Ventures states in this article that cyber-crime damages could rise to $6 trillion annually…
The board of directors for a nonprofit organization works a little bit like an insurance policy. In simple terms, the definition of risk is the “threat of loss.” Board directors have fiduciary responsibilities, which means that they must act with…
With much to accomplish in a short time frame, the boardrooms of hospital boards are a flurry of activity. Board trustees need their board packets as early as possible, so they have time to read the plethora of reports from…
The roles and responsibilities for board trustees of private and public colleges and universities are much the same. Colleges and universities also have governance structures much like other organizations. As it pertains to public and private schools, where matters are…
Healthcare reform and increased regulatory matters are making healthcare more complex and challenging for board directors than ever before. Hospitals have varying types of leadership structures, depending on their size and whether they are private, for-profit entities or nonprofit hospitals.…
Nonprofit boards have much work to do in setting up their articles of incorporation and bylaws. The bylaws are usually a work-in-progress. One of the topics that boards often put on the back burner is creating a confidentiality policy. Nonprofit…
It’s becoming rare that a day goes by without hearing about a major cybersecurity breach of some kind. Board directors are painfully aware that they need to be more active and better informed around the topic of cybersecurity, which is…
Whether the board chooses you or you choose the board, serving on a board of directors should be a mutually beneficial relationship. Every opportunity for board directorship may not be a good fit for a variety of reasons. When you…
One of the biggest buzz words going around for the past few months is GDPR. The General Data Protection Regulation (GDPR) is a new privacy law coming out of the European Union (EU). It applies to all companies within the…
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