Board members are tasked with overseeing the continued success of an organization. These individuals are particularly crucial to nonprofit organizations, which typically operate on a smaller budget and do not have as steady income streams as for-profit companies. When selecting board members, try to find individuals who will fit best within the organization and bring real passion to what the organization does. This video from the Stanford Graduate School of Business provides insights into choosing a nonprofit board.
Whomever you choose to serve on the board and oversee the day-to-day operations of your nonprofit organization, make sure your board members (and your organization) are protected with a directors and officers insurance policy. D&O insurance in New York City protects directors, officers, and other executive decision-makers within an organization. Contact an insurance company that specializes in nonprofit insurance to learn about the D&O coverage required for your organization.