Care, Loyalty and Obedience Are Foundation Duty Watchwords
Plans fail for lack of counsel, but with many advisers, they succeed. — Proverbs 15:22
As the governing body of your Foundation, the board of directors fulfills a variety of roles and responsibilities. The Foundation board offers advice and counsel while following processes overseen by rules and regulations, guided by our mission and fulfilled by embracing their duties with integrity and enthusiasm.
In addition to recapping our history through monthly video posts illustrating each decade of the past 50 years, I want to share with you our rules of the road we follow and the governance guidelines, processes, roles and responsibilities entrusted to your Foundation’s leadership — all there to assure a reliable, secure and dedicated stream of income to First United Methodist Church of Fort Worth.
The basic duties of the board can be summarized as these three:
- Duty of Care
- Duty of Loyalty
- Duty of Obedience.
Let’s take a look at the duties and how our experienced board brings breadth and depth of expertise and experience when advising and directing the efforts of your Foundation.
Duty of Care
Board members participate in organizational planning and decision-making.
At board meetings, the Board of Directors gather to discuss matters financial and funding-related. Within a caring environment, they hear reports, listen to opinions, take guidance from the Foundations guiding principles (articles of incorporation and by-laws) and work diligently to make sound and informed judgments that contribute to financial security for the maintenance and support of the Foundation’s sole beneficiary: First United Methodist Church of Fort Worth.
Our board members represent many industries and professions. All are in leadership and decision-making positions in their professional lives. The Foundation and the Church greatly benefit from their caring, careful volunteer service on the board.
Duty of Loyalty
Board members are loyal stewards of Foundation funds.
When making decisions, voting on motions and acting on behalf of the Foundation, board members leave their professional roles outside and are loyal guardians of money contributed over the past 50 years, because all contributions remain intact — only revenues generated by investments leave the accounts they oversee, and the money is used for only two purposes: to fund Church needs year after year and to operate the Foundation.
Board members put the interests of the Foundation before any personal or professional concerns and are loyal first and foremost to the Foundation and the Church. Their loyalty is bolstered by utmost integrity and trust. Each member considers Foundation decisions with the Church in mind, avoiding potential conflicts of interests
Duty of Obedience
Board members recognize, respect and follow the rules that govern the Foundation.
Directors must ensure that the Foundation complies with all applicable federal, state and local laws and regulations. This means knowing what they are and keeping abreast of changes that could potentially portend vulnerability so they can act to stay in compliance with rules while still safeguarding Foundation funds.
The directors also must be vigilant in adhering to the Foundation’s core mission of providing assistance to our great Church.
These best practices assure that the Foundation will continue to grow and thrive. Duties are welcomed and embraced by the board so that Foundation funds can continue to generate income to provide valuable assistance to our Church. And please enjoy the video linked here, to give you an idea of how the board was hard at work during the 1974 – 1984 decade, too.