Tell Us About Yourself

The Board of Directors is responsible for the following:

Term: Three years, No term limits

Minimum Financial Contribution: $1,000 give

Requirements: Ability and willingness to fulfill the responsibilities of IFEL board service

Meeting Frequency: Four (4) regular meetings; Committee meetings and interim calls as required

Meeting Location: via video conference (unless otherwise agreed)

RESPONSIBILITIES OF IFEL BOARD MEMBERS

I) Standard Responsibilities

• Attend all Board Meetings and the Annual Meeting

• Chair and/or participate in at least one standing committee or special project

• Make a personal annual cash contribution to be paid upon election to the Board and on each anniversary for the duration of board service thereafter (arrangement for monthly automatic payments may be made)

• Use personal connections with individuals, foundations, businesses, or civic groups to request financial and in-kind contributions for the organization

• Recommend potential candidates for Board service

• Actively support IFEL special events by attendance and inviting others to attend

• Represent IFEL at external events to the extent possible

• Establish the goals and planning process of the organization

• Ensure that the organization has fully integrated its policies into practice.

• Assume final responsibility for personnel policies and policies affecting the employment of the staff, including Affirmative Action policies

• Allow IFEL to use your name in public materials

• Hire and provide oversight for the Chief Executive Officer

II) Statutory responsibilities as the board of a non-profit corporation. Board members are responsible for ensuring that the organization complies with Federal, State, and Local laws, including but not limited to the following codes and laws:

• Internal Revenue Service Code for a tax exemption as a 50l(c)(3) organization

• Affirmative Action plan/program

• Federal, state, and local income tax regulations

• Social Security taxes

• Federal Fair Labor Standards Act and state and local wage and hour laws

• Employee Retirement Income and Security Act (ERISA)

• Federal and state laws regarding Workers' Compensation, Unemployment Insurance, Temporary Disability Insurance, and Medical Insurance

• Child labor, age and other kinds of discrimination, immigration, civil rights, privacy, etc.

• Laws pertaining to the holding and administration of trust funds for purposes intended by the donors

III) Power. Authority. and Accountability

A) Power and Authority. The Board of Directors shall have full power and authority over the affairs of the corporation between meetings of the corporation, except as otherwise provided in the bylaws or by statute.

B) Accountability. The Board of Directors is accountable to:

• The state of incorporation for adherence to state corporation law;

• The federal government in matters related to legislation affecting not-for-profit, nonstock corporations.

C) Budget. The Board of Directors shall approve the annual operational and capital budgets. The Board of Directors is ultimately responsible for ensuring that the budget is funded.

D) Audits. An independent certified public accountant shall be retained by the Board of Directors to perform an annual audit of the financial statements of the corporation. A report of the audit shall be submitted to the Board of Directors.

A conflict of interest exists when the interests or concerns of any member of the board of directors, or any member of her or his immediate family; or any party, group, business, or organization in which the board member is actively involved, may be seen as competing with the interests of or violating the ethical integrity of the Institute for Entrepreneurial Leadership (IFEL).

1. A board member or any member of her or his immediate family shall in no way realize any personal gain from their IFEL position. As a result, the following actions may result in a conflict of interest unless disclosed to the Board Chair following the disclosure procedure outlined in this document.

1.1 Accepting any gift, entertainment, service, loan, or promise of future benefits from any person or entity who might benefit from said individual’s relationship to IFEL.
1.2 Performing for personal gain, any service to any vendor of the Institute for Entrepreneurial Leadership as an employee or consultant, or in any other capacity that promises compensation of any kind.

2. A board member, or any member of her or his immediate family shall not use for personal advantage or for the advantage of any other party, group, business, or organization to which the board member has allegiance, any confidential information or material acquired while a member of the board, i.e., rosters, mailing lists, etc.

3. A board member who wishes to become a candidate for an employed position with the organization shall resign before applying for a position.

DISCLOSURE PROCEDURE:

1. Any potential conflict of interest shall be disclosed in writing to the Board Chair (in the case of the Board Chair to the Vice Chair) by the Board member before engaging in such activity or action.

2. When any disclosed conflict of interest is relevant to a matter requiring action by the board, the affected board member shall call it to the attention of the Board Chair (in case of the Board Chair, to the attention of the Vice Chair) and shall be excused from the meeting during discussion and vote on the matter. The minutes of the meeting shall reflect the foregoing, noting the time of the affected board member’s exit from and return to the meeting.

3. When there is doubt as to whether a conflict of interest exists, such doubt shall be resolved by a vote of the board, excluding the potentially affected board member. In the event a potential conflict of interest is not disclosed, the failure to disclose shall be referred to the board for determination of continued membership of the board member concerned.