We’ve covered the fiduciary duties of a nonprofit board director in an early post here at Set Plays, but it seems that the Board of the University of Virginia could have used a refresher before asking the university’s president to resign.
The series of events that follow are embarrassing for the organization and its directors, but even more so, it harms the trust that the nonprofit university has built up over time with its community. What can be learned from this?
For a nonprofit lawyer’s take on the story, read Emily Chan’s blog post at Nonprofit Law Blog. Emily astutely points out that one of the Board of the University of Virginia’s biggest mistakes was misusing the executive committee.
Does your board properly use the executive committee? If you are unsure, read the blog post and ask yourself the question again. Knowing when and how to use the power of the executive committee is a huge piece of serving on a nonprofit board.