Practice 4B: Payments to Board Members
Source
About This Practice
This guidance covers Practice 4B, which includes three elements:
Do not financially compensate board members for board service, except for reimbursement of expenses
If, in limited circumstances, the land trust compensates a board member for professional services that would otherwise be contracted out,
a. Document the circumstances surrounding the decision to do so
b. Document how the land trust uses appropriate comparability data to determine the amount to be paid and to confirm that there is no private inurement
c. Do not compensate the board’s presiding officer or treasurer for professional services
Do not provide loans to directors, officers or trustees
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