Navigating the Responsibilities of Nonprofit Fiduciaries
Fiduciaries to nonprofit organizations play an instrumental role in managing an organization’s interests while furthering its important mission. However, the role of a fiduciary involves much more than attendance at meetings. Fiduciaries must exercise integrity, thoughtfulness and prudence in decision-making, all while being proactively engaged and asking the right questions. It’s crucial that individuals undertaking the important responsibility of supervising a nonprofit’s investments recognize that they are doing so in a fiduciary capacity and understand exactly what this entails.
Structuring an Effective Investment Committee – Best Practices for Supporting Your Mission
Nonprofit Investment Committees have a heavy fiduciary responsibility but can sometimes lack the structure to maximize their effectiveness. While establishing a formal approach to committee composition and practices may sound straightforward, committees often fail to develop a thoughtful approach to the makeup of who is on their “bench,” which can lead to ineffective meetings or focus on unimportant issues.
