Condo owners and co-ops who volunteer to serve on a board soon discover that it’s not an easy task. There are feuds to settle and decisions that have a ripple effect on everyone, books to balance and financials with little room for error. Many people choose to serve on boards despite the pressure and stress even though they have been volunteering for years.

As a board member who is a volunteer, you are bound by three legal fiduciary responsibilities: obedience, care, and loyalty. This means that the needs of the organisation are prior to their personal or professional interests. It also means that they have to take steps to ensure that the company is in compliance with the law and fulfills its mission.

One of the primary responsibilities of a board is to supervise the organization’s program to ensure that they stay committed to their goals. This requires a thorough understanding of the organization’s programs and services and their participants, as well as their impact. This continuous monitoring is essential to the board’s other responsibilities, including strategic planning and financial oversight.

One of the most challenging aspects of being a board member is identifying and preventing certain patterns of decision-making that have been established over the long term. When these patterns become established, they are part of the culture of the board. They can have devastating effects on the company. That’s why it’s important for board members to be aware of these pitfalls and to review regularly the board manual and other documents to ensure they are following good governance practices.

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