Legal Requirements Associated With Serving on a Charitable Board

Being asked to join a Board of Trustees for a charitable organization can be viewed as an honor as well as a “way to give back” to the community.  However, membership on the board of a charitable organization comes with legal obligations that could be a trap, even for those who join the board with the best of intentions.

In Ohio, each board member for a charitable organization has a duty of care, a duty of loyalty, a duty of compliance, and a duty to manage accounts.  Failure to perform such important duties can lead to claims against trustees for breach of fiduciary duty.

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If you have questions related to the article, contact one of the attorneys in the firm’s Business Practice Group.