Support and Evaluate the Chief Executive – 3rd of 10 Responsibilities of Nonprofit Boards

Providing support for executive leadership, periodically assessing the chief executives performance, and acknowledging service through compensation are key board responsibilities.

The only place CEOs can look for support that really counts is from the board. A supportive environment includes providing guidance or encouragement when needed, as well as frequent and constructive feedback.

Annual assessments of the CEO help him/her perform more effectively. Goals and objectives, mutually discussed and agreed upon, should serve as the primary criteria in performance reviews.

A good performance review helps determine adjustments in compensation, but IRS guidelines for compensation should also be followed.

Advertisements

About cozbycpa

Heather L. Cozby is a CPA on the South Shore and Cape Cod. The managing partner of Cozby & Company, LLC, Heather has the resources and experience necessary to provide quality professional services on a timely basis and at a reasonable cost. She specializes in tax planning & preparation; audit, review & compilation services; management advisory services; bookkeeping; and accounting. Her unique niche is in working with homeowners’ associations and condominium trusts, advising with rental real estate, and providing outsourced financial consulting for mid-sized companies. She is more entrepreneurial than most accountants, and offers the best of both worlds - providing the services of a larger firm while retaining the ability to connect with her clients on a personal level.
This entry was posted in Charitable Organizations, Condominiums, Non Profits, YouTube and tagged , , , . Bookmark the permalink.