Thank you for agreeing to serve as an Advisory Board (AB) member for a social venture of Tides. We are pleased to introduce you to Tides fiscal sponsorship for hundreds of nonprofit social ventures nationwide and to help you understand the unique role you play in advancing your social venture's mission.
To understand the importance of the roles of each governing body at Tides, it is important to have familiarity with the term "fiduciary". The duties of a fiduciary include both loyalty and reasonable care of the assets within custody.
All of the fiduciary's actions are performed for the advantage of the beneficiary. In a nonprofit, the "community" served is the beneficiary of all donated charitable dollars. In the Tides model, Tides Board of Directors and social venture AB members both hold fiduciary responsibility. The Tides Board is responsible for compliance with all governmental, financial, and employment laws and regulations. The social venture ABs are caretakers of the social venture's mission and are responsible for supporting the project and its director, maintaining project financial sustainability and ensuring project impact Tides directors and social venture AB members are covered under the same directors and officers insurance policy. Each AB member is required to fill out this form and sign our Conflict of Interest Disclosure Form sent by email each year.
Tides goal is to help your project develop a strong and enthusiastic team of advisors. You can arrange for consultations on any board issue throughout the year, and Tides can provide written materials to support you in your role. Please take advantage of Tides AB development resources, consultations and webinar trainings offered monthly by web conference.
The responsibilities are critical to our relationship. Each Project Director and AB member should review the detailed responsibilities
. Each AB member must acknowledge their understanding and agreement to take on the role by signing the form. Please contact your advisor at Tides if anything is unclear.