Recently, an entrepreneur asked me to explain the qualities of a top board. In a nutshell, great boards require members with a broad network within the industry, extensive experience in a particular issue or challenge and strong connections within the financing community. While these qualities are important but the following qualities are often overlooked when searching for the ideal board members passion for the cause, an ability to listen and speak with a sense of humility and a willingness to take on the challenge are equally important to ensure that the board is operating at its highest level.
A great nonprofit board is passionate about its mission and demonstrates that passion through their actions. The board member is dedicated to helping the people they serve, whether that means participating in fundraiser index walks, volunteering at events or lobbying city legislators. This is a characteristic that can’t be taught, and it is a trait which can make or break the effectiveness of a board.
Good judgment is an essential requirement for being a member of any board and is particularly crucial in the governance of nonprofits. A board that has a track record of poor judgment (whether in approving strategies, hiring and firing or M&A transactions) is doing the organization a disservice. Good judgment is the result of wisdom, which is derived from making a variety of difficult decisions, experiencing some failures and possessing a lot of knowledge.
The last thing I consider a prerequisite for a good board member is an understanding of the importance of collaboration. Whether it is in the context of a board meeting, dinner for fundraisers, or in any other setting, the best board members understand that their success as board members is contingent on their ability to work together, and they take the time to form coalitions with their fellow board members.