# Running a Nonprofit Level 3: Boards and governance (free quiz and certificate) | Get Certified for Free

Source: https://getcertifiedforfree.com/courses/running-a-nonprofit/level-3/

Running a Nonprofit · Level 3 of 5 · Intermediate

# Boards and governance

Fiduciary duties, conflicts of interest, and good board habits.

## Study notes

1. Board members have fiduciary duties: care (pay attention and make informed decisions), loyalty (put the organization first), and obedience (follow the mission and the law).
1. Adopt a written conflict-of-interest policy. Members with a conflict disclose it and step out of the vote.
1. Keep minutes of board meetings that record attendance, motions, and votes.
1. The board hires, supervises, and sets pay for the executive director. Pay should be reasonable and documented.
1. Private inurement, meaning insiders improperly benefiting from the charity's money, can cost a 501(c)(3) its exemption.

## Quiz: 6 questions

Choose one answer for each question, then check your answers. Score 5 of 6 to pass. Then enter your name and email to download a PDF certificate and have a copy emailed to you. Answers are graded in your browser.

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