Responsibility of a Trustee
NEF Trustee Responsibilities
The Trustee’s Role – It may be more than you think.
Most Trustees agree to serve because they truly believe in and support the programs of NEF. However, the role of Trustee carries with it certain obligations and legal responsibilities.
The dictionary defines Trustee as “a person appointed to administer the affairs of a company, institution, etc.” or “a person who holds title to property for the benefit of another”. In other words, you are in a position of “trust” in the organization and affairs of NEF. Trustees are also “fiduciaries” in that they have the ultimate legal responsibility for the operation and administration of the Foundation.
In general, there are various state and federal laws and regulations that require Trustees to act in all matters with skill, care, prudence, loyalty and diligence. This is particularly true in all matters dealing with the finances of an organization.
Without question, the role of an effective Trustee requires diligence and attention to detail. Adequate preparation for Board meetings and an understanding of the organization’s assets and financial position are essential to making informed decisions.
An Action Plan for Trustees:
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