Bankruptcy of Allegheny Health Education and Research Foundation (HERF)

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Background information about Board of Directors Responsibilities (this information is taken directly from an Internet source and has not been greatly altered. If used in the student's final assignment submission, all work should either be paraphrased and cited, directly cited or used as a base for their own original work)

A board of directors is generally a group of business people given the responsibility to govern a corporation. In a nonprofit corporation, the board reports to stakeholders, particularly the local communities which the nonprofit serves since a non-profit organization has no shareholders.
In her book, "In Boards We Trust", Brenda Hanlon suggests that the five following duties are inherent to all boards regardless of its "for profit" or "not for profit" status.

1. Provide continuity for the organization by setting up a corporation or legal existence, and to represent the organization's point of view through interpretation of its products and services, and advocacy for them.

2. Select and appoint a chief executive to whom responsibility for the administration of the organization is delegated, including:
- To review and evaluate his/her performance regularly on the basis of a specific job description, including executive relations with the board, leadership in the organization, in program planning and implementation, and in management of the organization and its personnel
- To offer administrative guidance and determine ...