Hi Alanna,
Firstly to say that I work in the UK, so my comments are from a British
perspective, although I am sure my colleagues in the US would echo many of
my sentiments here!
I endorse all of Cindy's comments below. I'd also add a further word of
caution: I work in the not for profit sector and have met too many trustees
who have accepted trusteeships largely because they were flattered to be
asked. Not only are there no "benefits" in the financial sense but there are
responsibilities! In the UK if you become a trustee of the board of a not
for profit organisations that is unincorporated, you can be jointly and
severally be held financially responsible for the debts of the organisation
if the trustees are found to be negligent in their duties! So that's your
house and and all other personal assets on the line! That's why many
charities are incorporated and trustee liability is then limited to a small
amount: the same idea as with shareholder liability for a limited company.
So...if you are thinking of becoming a trustee read the "small print" very
carefully to establish to what extent, if any, you could be held personally
liable for the debts of the organisation you would be a trustee of!
In case that has scared some of you rigid about being museum trustees, I
hasten to add that this is an important and essential role and I know many
museums who could not operate without the governance of unpaid trustees: so
very unlike the commercial world where the Board of Directors of major
corporations are on substantial salaries, dividends, share options, etc.,
etc! Or put it another way: you don't work in museums to get rich :) !
Hope that helps rather than discourages....
Best Wishes,
Jerry Symonds - Senior Internal Auditor, Historic Royal Palaces, Surrey,
England.
----- Original Message -----
From: "Cindy Boyer" <[log in to unmask]>
To: <[log in to unmask]>
Sent: Friday, May 30, 2008 8:28 PM
Subject: Re: [MUSEUM-L] Nonprofit Board Member Benefits
Benefits?
In my world, people are on the board of a nonprofit to benefit the
organization, not the other way around.
Okay, Okay - who called me Pollyanna?
Board members serve as a service, not for compensation. There are benefits
from serving on a board, but perhaps not the type that can be quantified and
put into writing. They include:
Association (networking) with other leaders in the community
An opportunity to direct an organization and make a difference in your
community
"Good on the resume" professional development from participation on board
actvitivies, or even formal training for some board responsibilities.
We have parties and events to thank our upper level members, not our board
members. Many of them are upper level members, so participate in that
capacity.
I know I occasionally see lists of board members for charitable foundations
where there is some compensation for the foundation board members. It seems
that's usually the case when it's a family foundation, and board members
must travel to attend the quarterly meetings.
But compensation to be on a museum or other similar board?
Am I living in a Pollyanna world?
Cindy Boyer
Director of Museums and Education
The Landmark Society of Western New York
133 S. Fitzhugh St.
Rochester NY 14608
(585) 546-7029 ext. 12
[log in to unmask]
The Landmark Society: Revitalizing Yesterday, Protecting Today, and Planning
for Tomorrow
www.landmarksociety.org
Confessions of a Preservationist: The Landmark Society blog
Facebook / MySpace
-----Original Message-----
From: Museum discussion list [mailto:[log in to unmask]] On Behalf
Of Alanna Schoen
Sent: Friday, May 30, 2008 2:30 PM
To: [log in to unmask]
Subject: [MUSEUM-L] Nonprofit Board Member Benefits
Hello all,
Does anyone have a good resource or personal experience with defining the
benefits of being a member on a Board of Trustees for a nonprofit? While
monetary compensation is not the norm, should multiple parties and events,
solely for the board, be expected? Are these types of compensation
typically laid out in Board Orientation material?
Any information would be most appreciated.
Thanks,
Alanna
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