Charities, or non-profit organisations, are created to have a positive impact on the world or society. With that in mind, the aims of the organisation must be to channel as much of the financial means at their disposal to positively execute their impact.
It follows therefore, that it cannot be expected that a charitable organisation rewards board members and advisors to the level that might be expected for a similar investment of your time and expertise into a board appointment of a commercial organisation. Nevertheless the benefits of a solid board member’s business acumen, gravitas and network have great value to charities and NGOs, and larger ones with very strong financial backing will be in a position to spend to attract high profile advisors and board members.
Our humble view on this?
- Regard board and advisory seats with non-profits as an opportunity for you to give back, and enjoy the affiliated satisfaction of doing so
- Successful board appointments with charities can position you well for appointments with greater financial reward further down the line
- Charities can benefit hugely from your guidance and may accordingly require some substantial time investments. Do be clear upfront how much time you are able to commit to, and ensure you believe in and are passionate about the cause of the organisation
Additional information on compensation for board and advisory appointments, as well as additional resources can be found in the file library for members of Board Owl.
