The research was undertaken through a series of surveys and direct observation of board practices over a six month period.
The findings indicate that:
The findings reveal that many associations are either choosing to ignore corporate governance practices or are not aware that governance is just as applicable to not-for-profit organisations as it is to the commercial sector.
At one particular charity-based association six out of ten newly elected board members could not answer the following three questions:
1. Can you name your association’s auditors?
2. Does your association have an overdraft?
3. What is the name of your association’s legal advisers?
There are strategic solutions to overcome these board-level issues, which include some if not all of the following:
Third Sector acknowledges the traditional custodians of the lands where we live, learn and work. We pay our respects to Elders past, present and emerging.