Nonprofit Board: Giving Back but Not Giving Up Your Assets
Serving on nonprofit boards without risking your net worth
“To whom much is given, much is expected.”Your mother’s words echo in your head as a friend calls to ask you to join the board of a well-respected organization. Maybe it’s the local Y.The board of trustees of your kids’ school.A hospital.Your town’s chapter of a medically-focused fundraising organization.Your alma mater’s board of governors.“Hmmm… maybe it is time to give back,” you think to yourself.
Serving on a board of directors, while both personally rewarding and with great benefits to our communities, is not something that should be taken lightly – or without due diligence – to be sure that as you give your time and talent, you are not unwittingly putting your personal assets at risk for the actions of the board.Good to serve the greater good; better to serve without risking your family’s security.Learn More
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