Governance is the responsibility that the Board of Directors has to the business association, its members, the government, and the public to run the organization in a legal, ethical, and professional manner. The board is the governing body of an association, elected by its members through a fair and transparent process. As such, the board has a fiduciary duty to stay informed about the status of the organization, oversee budget and financial controls, hold regular meetings, and set and enforce the policies and bylaws of the association. An effective governing body includes a diverse mix of competencies and provides expertise and insights to inform the organization’s work. High performing boards set the strategic plan for the organization and provide visionary leadership to anticipate the future needs of the members and position the organization for long-term success. The board works in a balanced partnership with the staff to advance the organization’s mission.
