A board of directors rely on various types of documents to carry out its responsibilities, ranging from legal requirements to internal policies and guidelines. To make effective decisions, a board must have access to complete detailed, accurate and clear information.

The right board documents is crucial for any non-profit to be successful. Without the proper documents, a board can get caught up in administrative work and lose the focus of strategic growth. It’s crucial to keep these five documents on hand to ensure that your board is meeting its fiduciary duty of accountability.

Board papers are the material that board members review before and during a board meeting. These documents https://swrc2.info/what-is-a-board-report/ are important because they provide context and background information that assists boards in making informed decisions. Board papers must be concise, clear and thorough. This is an amalgamation of three C’s:

Financial Statements

Board members require an easy-to-read picture of the company’s financial health to understand what is owned, how much money is on hand and what expenses are approved by the board. The board must be familiar with company finances in order to ask appropriate questions at meetings and supervise the CEO’s financial accountability.