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.

For more information on legal requirements associated with serving on a charitable organization’s board, click here: https://www.ohioattorneygeneral.gov/GuideforCharityBoardMembers.

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