Thursday, May 04, 2006

The Chronicle, 5/3/2006: Tips to Help Board Members Better Understand Their Fiduciary Duties

The Chronicle, 5/3/2006: Tips to Help Board Members Better Understand Their Fiduciary Duties: "Tips to Help Board Members Better Understand Their Fiduciary Duties
By Lynn O'Shaughnessy

The executive who used to prepare the financial reports for Meet the Composer, a nonprofit arts organization in


New York, always crammed the documents with data. The avalanche of numbers, however, wasn't particularly helpful to the group's Board of Directors.

The executive was 'a complex financial thinker,' recalls Heather Hitchens, the charity's president. But, she adds, the reports' excessive detail was confusing to the board. 'They were very complex spreadsheets that didn't convey a message.'"

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