Organizational Details and Documentation
After you find that the mission of the organization resonates with you, you’ll want to know whether it can accomplish the mission. The first questions are who are the people guiding the way; what skills and experience does each contribute; and is the foundation for effectively accomplishing the mission in place? The devil is in the details: So what are the details? The following is not an exhaustive list; it is meant to alert the conscientious prospective board member that he or she has a duty to the organization that goes beyond lending a name and/or raising money or having fun.
Have the tax returns been filed and any taxes paid?
Where are the organization's records kept?
Has the board adopted a Code of Ethics?
Who reviews distributions and expenses?
compensation. The individuals responsible for setting the compensation level should also follow the organization’s confl ict of interest policy. It is advisable that the compensation be approved in advance and documented in writing when it is approved. It is also advisable to document in writing the identity of the directors who voted on the compensation. Review the minutes as to how compensation was determined.
Does the organization strive to comply with Sarbanes-Oxley?