Intro to Theatre Arts Management Final

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The actions of the board of directors of an organization with respect to establishing and monitoring the long-term direction of that organization is

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governance

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The governing body of a corporation

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board of directors

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A group of individuals without voting rights who advise a board of directors on their areas of experience

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advisory board

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A group with non-voting rights that perform a function (usually fundraising) for a not-for-profit organization

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auxiliary board

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An honorary title given to a person who has retired from regular service but retains the title of that office

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emeritus

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"By virtue of office or position." A member of a governing board who serves on the board because of a particular position they hold.

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ex-officio

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The legal responsibility to act wisely on behalf of the organization

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fiduciary duty

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Which of the following is not one of the three duties of fiduciary responsibilities: Duty of care, Duty of loyalty, Duty of obedience, Duty of interest?

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Duty of interest

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Condition that exists when the personal interest of a member of the board or staff differs from their obligation to the organization is called a conflict of 

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interest

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A year as reckoned for tax or accounting purposes

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fiscal year