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Business letters can have many types of content, for example to request direct information or action from another party, to order supplies from a supplier, to point out a mistake by the letter's recipient, to reply directly to a request, to apologize for a wrong, or to convey goodwill. A business letter is sometimes useful because it produces a ...
The National Association of Corporate Directors (NACD) is an independent, not-for-profit, section 501(c)(3) founded in 1977 and headquartered in Arlington, Virginia.NACD's membership includes more than 1,750 corporate boards as well as several thousand individual members, for a total of more than 24,000 members. [1]
In a non-profit corporation, the "agency problem" is even more difficult than in the for-profit sector, because the management of a non-profit is not even theoretically subject to removal by the charitable beneficiaries. The board of directors of most charities is self-perpetuating, with new members chosen by vote of the existing members.
Surveys have indicated that about 20% of nonprofit foundations pay their board members, [57] and 2% of American nonprofit organizations do. [58] [59] 80% of nonprofit organizations require board members to personally contribute to the organization. [60] [61] As of 2007, this percentage had increased in recent years. [timeframe?] [62] [63] [64]
The Business Roundtable (BRT) is a nonprofit lobbyist association based in Washington, D.C. whose members are chief executive officers of major U.S. companies. [1] Unlike the United States Chamber of Commerce , whose members are entire businesses, BRT members are exclusively CEOs.
Prior to December 30, 1969, nonprofit organizations could declare themselves to be tax-exempt under Section 501(c)(3) without first obtaining Internal Revenue Service recognition by filing Form 1023 and receiving a determination letter. [21] A nonprofit organization that did so prior to that date could still be subject to challenge of its ...
The sudden resignation of a high-profile Intel board member came after differences with CEO Pat Gelsinger and other directors over what the director considered the U.S. company’s bloated ...
Carver noticed that board members often wonder what the board's job is and where the line lies that distinguishes the board's job from that of the chief executive officer. Carver's model clarifies the separation by having the board explicitly state the board's and CEO's jobs in a set of written policies (hence the name Policy Governance).