Serving on a nonprofit board is an honor, but did you know it could also expose you to personal liability? Nonprofits face many of the same risks as for-profit organizations, so it’s important to ensure you’re fully protected before accepting a board position.
6 Key Considerations for Joining a Nonprofit Board
- Understand Expectations: Know what’s required of board members, including governance and fundraising responsibilities.
- Review Governance Documents: Check bylaws for liability protection clauses and financial transparency.
- Investigate D&O Insurance: Ensure the organization has Directors & Officers insurance with adequate coverage.
- Assess Employment Practices: Confirm policies are in place to address wrongful termination or harassment claims.
- Research Past Litigation: Be aware of any pending or past lawsuits.
- Know Financial Responsibilities: Understand the nonprofit’s financial health and your role in its oversight.
Protect Your Role and Reputation with Expert Advice
At Swarts, Manning & Associates, we provide a unique perspective on all of your commercial coverage options, and we help to determine which carrier best fits your business needs. We strive to find you the broadest coverage at the best available rate. Give us a call to get started: (833) 878-2820.
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