‘Self interest’ and ‘vested interests’ are central to governance of conflict of interest within non-profit organisations. Boards elected by members of a profession or industry rightly see their role as addressing member needs – often with a focus on members’ economic success or survival. While the conflict (or perception of conflict) between a director’s personal… Continue reading Between Altruism and Greed
(Part 2 – ‘Duty of Care, Skill and Diligence’ series) The term ‘due diligence’ is most often used to describe a detailed appraisal of a business undertaken by a prospective buyer, with a key focus on confirming its assets and liabilities and evaluating its commercial prospects. In the context of non-profit directorial duties however, its… Continue reading Giving ‘diligence’ its due
(Part 1 – ‘Duty of Care, Skill and Diligence’ series) There are four main duties of Australian directors, all of which apply whether they are members of commercial or not-for-profit boards. As illustrated in the header image above, these are the: Duty to act with reasonable care, skill and diligence Duty to act in good… Continue reading Caring about the ‘duty of care’
The not-for-profit sector is facing the same existential questions as the corporate sector at present due to COVID-19. Association members are wondering whether they will have jobs or businesses that they can keep viable, and so renewal of membership subscriptions is not necessarily a priority right now, while attendance at conferences and educational events is… Continue reading The solvency question: Should we continue to exist?