Five Types of Board Documents

A board of directors makes use of various documents to perform its responsibilities. These range from legal requirements to internal guidelines and policies. To make informed decisions, directors should have access to all detailed, accurate and clear information.

Having the right board documents is essential for any non-profit organization to succeed. Without the proper documents, a board can get caught up in administrative work and lose focus on growth strategies. It’s essential to have these five documents in your arsenal to ensure that your board is fulfilling its fiduciary obligation of accountability.

Board papers are documents that board members study prior to and during meetings. These documents are essential because they provide background and context which helps boards make informed decisions. Board documents must swrc2.info be short, concise and clear. This is an amalgamation of three C’s:

Financial Statements

Board members need a picture of the financial health of the business that is simple to comprehend. This will help them determine what the company’s assets are and the amount of cash available, and the expenses that have been approved by the board. The board needs to be familiar with the company’s finances so they can ask pertinent questions at meetings and monitor the CEO’s financial reporting.