Board of Directors - Functions

Summary of Board Structure and Functions

 

The overall functions of The Franklin Foundation Executive Board of Directors (“Exec Board”) are:

• To set long-term direction for the organization;
• To monitor the performance of and provide support to the CEO;
• To advocate for and represent the organization in order to promote its welfare;
• To help bring resources to the organization;
• To monitor, oversee and assure the financial, program, ethical and governance integrity of the organization. A strong and effective board of directors balances different skills, talents, personalities, insights and resources needed to perform these responsibilities.

The Board of Directors consists of no more than 17 members, with an optimal number of 15 members. Each member serves a three-year term.

 

Members of the Board of Directors may serve unlimited consecutive terms, subject to renewed invitation by the Governance Committee.

 

All members of the Board of Directors are screened and proposed for nomination/re-nomination to the Board of Directors by the Governance Committee of the Board.

 

Recommended re-nominations to the Board are based on evaluation of individual board member performance for the past three years of service and of overall board performance for the past year.

 

Nominations and re-nominations recommended by the Governance Committee to the Board are then reviewed by the board as a whole for election/re-election.

 

The Board of Directors meets quarterly.  Directors attend quarterly conferences via phone or in person. Annual meetings of the board are attended in person.  (See 3a, Job Description for Board Members). During the Annual Meeting of the Board of Directors, financial and program plans for the upcoming year are proposed and new Board members are elected and begin their three-year terms. Ordinarily, officers of the Board are elected annually by the Board at its Annual meeting.

 

Additional information regarding the foundation's board of directors, councils, and other governance information can be found in our donor relations section of the website.

 

   » Visit Donor Relations
 

 

Summary of Honorary Chairpersons' Functions

 

Honorary Chairpersons serve as the foundation's spokespeople at special events, fundraisers, and gatherings; promoting the work of the foundation and working with directors of the organization to assist in the acquisition of major gifts from both corporate and individual donors.

 

Honorary Chairpersons are well recognized as leaders in their communities and are professionally and personally aligned in the work of The Franklin Foundation. The CEO of the organization can name up to 5 honorary chairpersons every 2 years to serve as ambassadors of the foundation.