Five Types of Board Documents

A board of directors is dependent on several types of documents in order to fulfill its duties, ranging from legal requirements to internal guidelines and policies. To make the best decisions, the board must have access accurate, precise and concise information.

The proper board document is essential for any non-profit organization to succeed. A board can become overwhelmed with administrative duties without the proper materials and lose focus on strategy. To ensure that your board is meeting its fiduciary duty of accountability, it’s essential to keep these five important documents in the right place:

Board papers are the materials that board members read before and during board meetings. These documents are important because they provide the context and background navigate to this board software that enables boards to make informed decisions. Board papers should be concise, clear and thorough. This is the result of three C’s:

Financial Statements

Board members need an easy-to-read overview of the financial health of the company to understand what is owned, how much money is on hand and what expenditures are authorized by the board. The board must be knowledgeable about the company’s financials so they can ask the appropriate questions during meetings and monitor the CEO’s financial responsibility.