20 questions not-for-profit directors should ask about their duties
Directors of NFP organizations have various duties to their organizations and to themselves in terms of personal liability. Learn what the duties of loyalty and care encompass, and how to successfully fulfil them.
Directors are sometimes referred to as the “directing mind” of an organization, and with a responsibility like that, they must be deeply aware of the duties required by the role. Not-for-profit directors have various duties and responsibilities, the most fundamental of which are the fiduciary duty, or the duty of loyalty, and the duty of care. Successful fulfilment of these duties is critical both in terms of the wellbeing of the organization, and to protect directors from liability. This publication focuses on the duties of directors of organizations in the corporate form, both registered charities and those not.
Key takeaways:
- what it means to be a fiduciary
- the director’s duty of loyalty
- the director’s duty of care
- how to discharge these duties