Boards- Helpful Hint #4- Using Due Diligence in Board Member Selection

Grant Thorton is a national accounting firm with a large non-profit organization practice. Their current issue of “Forward Thinking,” discusses using a process of due diligence to increase the likelihood that new board members will be a good fit. The authors observe,

“organizations are concerned that selecting the wrong board members could lead to governance problems, reputational damage and, simply put, bad chemistry. Moreover, heightened scrutiny and transparency requirements from the IRS and state agencies also have raised the stakes for candidate selection. But how do organizations identify and select the most ideal candidates for board membership? While there is a wide range of methods, a growing number of savvy not-for-profit organizations are undertaking due diligence in assessing candidates for board membership.”

A number of suggested procedures that can be used to employ due diligence in the new member selection process are included in the article. To read more, just click on the title to this post.