Ep. 121: Revealing Key Board Member Responsibilities

The Foundational Roles and Responsibilities of Nonprofit Board Members in Senior Living Organizations with Jennifer Drago

Today, Jennifer Drago, an experienced strategist and business coach, hosts a solo episode. She’s passionate about executive leadership and strategic planning. Jennifer has worked with senior living organizations and nonprofits, helping them improve their governance and strategic planning. In this episode, she discusses a very important topic: the need for board education and understanding about the responsibilities of board members, and their crucial roles in shaping organizational strategic direction

Board Education and Development [0:32]
Jennifer highlights the importance of senior living organizations spending resources on training their board members, as she believes this improves their governance and competitive advantage.

Fiduciary Responsibilities in Nonprofits [1:47]
Board members in nonprofits are considered trusted advisors who help steer the organization toward long-term viability. They follow ethical and legal governance practices and effectively handle resources.

[4:00] Jennifer emphasizes that board members need to act wisely, faithfully, and dutifully, making sure the nonprofit's assets are used sensibly and are in line with its purpose.

Setting Strategic Direction and Annual Goals [6:25]
Jennifer then reviews the crucial role of board members in determining the nonprofit's strategic path, setting yearly objectives, and ensuring the CEO meets these objectives.

Assuring Necessary Resources, Including Capable Leadership [8:01]
Jennifer emphasizes the board's duty to establish a strategic path and secure competent leadership through the recruitment and appointment of the CEO.

[9:47] She further emphasizes the valuable role of board members in assuring the needed resources, including assisting in fundraising by promoting the organization and linking it with prospective contributors.

Providing Oversight [11:49]
Jennifer outlines the roles of board members in elderly care institutions, which encompass supervising the institution's finances, initiatives, legal obligations, and assessing the CEO's work.

[13:46] She reiterates the significant roles and responsibilities of board members in guaranteeing the institution's prosperity and adherence to legal norms.

About Our Host:
Jennifer Drago is an award-winning strategist, author, speaker and certified business coach. Through Peak to Profit consulting, she helps senior living, healthcare and nonprofit organizations get clear on their vision and strategy so they can identify -- and execute on -- opportunities for growth, revenue and operational efficiencies.

Jennifer worked as a strategy and operations executive in the healthcare and senior living industries for 30 years, facilitating strategic plans and developing new programs and service lines. She holds a bachelor’s degree in Finance, a master’s degree in Business Administration and a master’s degree in Health Services Administration from Arizona State University. She is a Life Fellow of the American College of Healthcare Executives, a certified Nonprofit Board Consultant (BoardSource), a certified Mastery Method Coach (Institute of Coaching Mastery) and a Lifecycles Capacity Consultant (Nonprofit Lifecycles Institute).

Visit http://seniorlivingvisionaries.com or our sponsor, https://www.peaktoprofit.com, to learn more!
You can also follow Jennifer on her LinkedIn

About the Show:
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Categories: Focus, Growth, Habits, Leadership, Strategy