It sounds like you're unhappy with this CCRC from your other post.
To me, it seems like the Board of Directors gave reasonable and honest answers to the questions about their fiduciary duty. I'm unfamiliar with CCRC, but the BoD for a non-profit acts for benefit of the organization rather than those currently served by it. So for example, the Board might be expected to reject a proposal that greatly benefits current residents but seriously risks the CCRC's ability to fulfill its mission for future residents. It is also typical (and desirable) for Board members to not have a financial stake in the organization or their decision so as to reduce financial conflict of interest. It's different than what you'd want for a corporate Board who should have financial incentives aligned with the owners.
As an analogy, the "Board" of the large public university system I work for serves the interests of the state, its citizens, and the university -- sometimes to the detriment of students and employees like me. That's their job, and it needs to be done. Board members aren't eligible for any compensation from the University.
To me, it seems like the Board of Directors gave reasonable and honest answers to the questions about their fiduciary duty. I'm unfamiliar with CCRC, but the BoD for a non-profit acts for benefit of the organization rather than those currently served by it. So for example, the Board might be expected to reject a proposal that greatly benefits current residents but seriously risks the CCRC's ability to fulfill its mission for future residents. It is also typical (and desirable) for Board members to not have a financial stake in the organization or their decision so as to reduce financial conflict of interest. It's different than what you'd want for a corporate Board who should have financial incentives aligned with the owners.
As an analogy, the "Board" of the large public university system I work for serves the interests of the state, its citizens, and the university -- sometimes to the detriment of students and employees like me. That's their job, and it needs to be done. Board members aren't eligible for any compensation from the University.
Statistics: Posted by Doctor Rhythm — Wed Jul 03, 2024 2:18 am