A board of directors uses a variety of documents Related Site swrc2.info/10-faqs-about-software-as-a-service/ to fulfill its duties. These vary from legal requirements to internal guidelines and policies. In order to take effective decisions, directors require access to clear, concise and complete information.

It is crucial that a non-profit organization has proper board documents to ensure success. Without the proper materials, a board can be bogged down with administrative tasks and lose the focus on strategic growth. It’s vital to have these five documents in your arsenal in order to ensure that your board is fulfilling its fiduciary responsibilities of accountability.

Board papers are the documents that board members read prior to and during board meetings. These documents are vital because they provide background and context that helps boards make informed decisions. To be effective, board documents should be concise, clear and complete – a blend of the three C’s of communication:

Financial Statements

Board members need a summary of the financial health of the company that is easy to read. This will allow them to know what the company has, how much cash is available, and what expenses have been voted on by the board. The board must be familiar with the company’s financials in order to ask right questions at meetings and oversee the CEO’s financial accountability.