Directors serve on the Global Vitiligo Foundation Board of Directors. Their fiduciary duty is the primary responsibility of every board member.
A fiduciary duty requires board members to make good-faith decisions that put the best interests of the foundation in alignment with its mission. This must be kept independent from undue influence by any person or any other financial interests. A board member’s fiduciary duty can be broken down into three parts: care, loyalty, and obedience.
- With regard to the duty of care, board members must perform their responsibilities in a manner that is in line with the care, diligence, and skill of an ordinarily prudent person who would find themselves in a similar situation in a corresponding position.
- The duty of loyalty mandates board members and officers to behave in a manner that is in good faith and believed to put the interests of the foundation before any personal interests or those of another person or organization. The fiduciary cannot act out of avarice or expedience either.
- The duty of obedience requires board members to ensure the foundation is operating in a manner that furthers its stated purpose and is always operating in compliance with all statutes and regulations.
Day-to-day fiduciary duty plays out in the following ways:
- Board members set the direction for the foundation: perform strategic thinking and planning, promote a positive public image, set mission and vision, establish organizational values, approve operational and annual plans
- Board members ensure wise use of foundation resources: hire capable staff, provide fiduciary responsibility
- Board members provide oversight of the foundation: oversee financial management, minimize exposure to risk, measure progress on strategic plan, monitor programs and services, provide legal and moral oversight, evaluate the staff, and perform self-evaluation
Additional responsibilities include coordinating and leading various board workgroups/task forces, representing the foundation at various events, advocating for GVF in their professional contexts, and responding to changes in the vitiligo community and research field.