Do you want to serve on a nonprofit board?
Joining a nonprofit organization can be a great personal experience and a powerful way to support a mission you believe in.
If you’re active in your social and professional communities and have shown an interest in philanthropy, you’ll likely be asked to serve on the board of a nonprofit organization. It could be a group you’ve supported for a while, contributing money and volunteering your time, and this is a logical next step. Or you may be a friend of another board member or prominent in philanthropic circles.
“Being asked is incredibly flattering,” says Nicole Sebastian, U.S. Director of the Optimus Foundation for UBS. “It’s different from volunteering, or from just contributing financially; it’s an opportunity to get involved at the highest level of an organization’s strategy and oversight.”
But joining a board that isn't a good fit for you, or joining for the wrong reason, is a decision you’ll likely regret, Sebastian says. She recalls a New York executive who had long been a passionate supporter of a small nonprofit in her neighborhood. When she got the chance to serve as a member of the board, she took the plunge. “It has been a disaster,” Sebastian says. “It’s a very small group with significant organizational and operational flaws.” And because the executive is the heavyweight on the board, the group relies on her for everything.
Simply being aligned with an organization’s mission, as this woman was, is by no means the only consideration when deciding whether to join its board, Sebastian says. If this is to be a successful partnership, satisfying for you while also meeting the goals of the group, you need to do your own due diligence.
Key takeaways:
- Being asked to serve on a nonprofit’s board of directors is an honor, but do your homework before accepting the offer.
- Look into what is expected of you—the financial contribution required, your ability to raise funds and the need to tap into your professional skills.
- Don’t rush into a decision. It’s easier to say no up-front or take your time in deciding whether to accept the offer than it is to back out once you’ve joined.
- Your ability to help a nonprofit as a board member rests on whether the group’s culture is a good fit for you.
Find out what’s expected
“The very first question has to be ‘What is expected of me?’ ” says Mary Ann LoFrumento, MD, a pediatrician and founder and president of the board at Hands Up for Haiti, a medical humanitarian organization.
Unlike directors of for-profit companies, who get paid for their service, nonprofit board members serve gratis and are typically called on to make financial contributions. “Everyone on the board should contribute, so make sure you’re aligned about the amount,” says Sebastian. “You may be invited to join the board of a terrific organization and the minimum annual contribution is $100,000—whereas you were planning to give $25,000. That needs to be discussed up front.” Whatever financial commitment you make, speak with your Financial Advisor to make sure that your donation fits comfortably with your other philanthropic activities, and with your overall financial strategy.
There may also be expectations about your skill as a fund-raiser. If you have a prominent position in a corporation, for example, the group may assume that you have access to corporate funds or lots of wealthy people whom you won’t mind asking for help.
You may be invited to join the board of a terrific organization and the minimum annual contribution is $100,000—whereas you were planning to give $25,000. That needs to be discussed up-front.
