Sunday, February 05, 2006

Core Governance Issues

I missed the memo on this one, but I'm making a note of this report for my own reference. It's a report from Moody's Investors Service--the people who do credit ratings and risk analysis--treating issues of governance in the not-for-profit healthcare sector. Now, this clearly centers around hospitals and the like--obviously a different issue than that which us association people face. Nonetheless, the lessons from this report could be useful to many. In particular, the "core dimensions of governance" are ones which should always be on the front burner, regardless of size of what have you. They are, according to the report:
1. Development of Organization's Mission
2. Selection and Evaluation of Senior Management
3. Board Composition and Performance
4. Understanding and Interpretation of Financial Reporting
5. Use of Performance Metrics Based On External Benchmarks to Regularly Review Institution's Performance
6. Maintaining and Building the Organization's Financial Resources
7. Avoidance of Conflicts of Interest