HMEF Board of Directors Purpose and Responsibilities |
Purpose
To advise, govern, oversee policy and direction, and assist with the leadership and promotion of the Hospitality Minnesota Education Foundation (HMEF), its mission and initiatives.
Overview
The Board of Directors are trustees who act on behalf of the HMEF by providing leadership, oversight and support. The HMEF Board of Directors functions in nine primary areas:
Board Members have a duty of loyalty to HMEF, its staff and other Board Members. Each Board Member understands that the Board is responsible for all decisions, actions and outcomes, acting on behalf of HMEF for the common good of the hospitality industry and the Hospitality Minnesota association.
Board Members accomplish their functions through regular meetings, and by establishing a committee structure that is appropriate to the size of the Foundation and the Board and by adhering to a group process which generates and uses the best thinking of all its Members. While differences of opinion are sure to arise, Board Members should seek to support decisions made on a majority basis.
Responsibilities of Directors
There are typically, four (4) Board Meetings a year (February, May, August November). Board Members are expected to attend the Board Meetings in person or electronically. Board Members are also expected to participate in at least one of the HMEF Committees focusing on the current key HMEF initiatives that have been approved by the Board.
The Board should be open to self-evaluation and regularly review their own composition to ensure constituent representation, and board member expertise and commitment.
Members of the Board accept these responsibilities while acting in the interest of the foundation:
Although Board Members are not involved in the day-to-day responsibility of preparing budget and financial statements, each Board Member recognizes their fiduciary responsibility to foster the financial success of the Foundation and has the responsibility to know the budget, including the sources of revenue as well as expenses.
Time Commitment
In addition to dedicating time to attend Board meetings, directors are expected to attend fundraising events and participate on at least one committee that typically meet separately during the year. Currently the board meets four times per year with meetings lasting 2-3 hours. See the summary chart below for more details.
Estimated Time Required
To advise, govern, oversee policy and direction, and assist with the leadership and promotion of the Hospitality Minnesota Education Foundation (HMEF), its mission and initiatives.
Overview
The Board of Directors are trustees who act on behalf of the HMEF by providing leadership, oversight and support. The HMEF Board of Directors functions in nine primary areas:
- Establishing the mission, vision and goals of the Foundation.
- Forming a strategic plan to accomplish the mission.
- Overseeing and evaluating the strategic plan’s success.
- Fundraising and scholarship development.
- Ensuring financial solvency of the foundation.
- Bridging the gap between the hospitality and educational communities.
- Recruiting and retaining new volunteers and participating schools.
- Representing the Foundation and its initiatives within the community.
- Assisting to create the work force of the future.
Board Members have a duty of loyalty to HMEF, its staff and other Board Members. Each Board Member understands that the Board is responsible for all decisions, actions and outcomes, acting on behalf of HMEF for the common good of the hospitality industry and the Hospitality Minnesota association.
Board Members accomplish their functions through regular meetings, and by establishing a committee structure that is appropriate to the size of the Foundation and the Board and by adhering to a group process which generates and uses the best thinking of all its Members. While differences of opinion are sure to arise, Board Members should seek to support decisions made on a majority basis.
Responsibilities of Directors
There are typically, four (4) Board Meetings a year (February, May, August November). Board Members are expected to attend the Board Meetings in person or electronically. Board Members are also expected to participate in at least one of the HMEF Committees focusing on the current key HMEF initiatives that have been approved by the Board.
The Board should be open to self-evaluation and regularly review their own composition to ensure constituent representation, and board member expertise and commitment.
Members of the Board accept these responsibilities while acting in the interest of the foundation:
- A Member of the Board of Directors may not be absent from more than two Board meetings per year.
- Each Board Member must actively participate in HMEF initiatives supporting the goals and objectives of the HMEF strategic plan.
- Each Board Member will actively participate in and promote at least one fundraising initiative per year.
- Each Board Member will be available to speak to educators interested in one of the two high school curricula supported by the HMEF, advising the staff of any follow up assistance he/she may need.
- If for any reason, a Board Member is unable to fulfill his/her duties with regard to a Foundation event or activity, that Board Member shall ask another Board Member to fill in for him/her.
- Each Board Member shall act as a mentor or seek a mentor, whenever possible, for schools participating in the HMEF curricula programs.
- Each Board Member shall actively represent the HMEF in their community and seek to engage Industry leaders to promote the Foundation, its initiatives and the schools involved.
Although Board Members are not involved in the day-to-day responsibility of preparing budget and financial statements, each Board Member recognizes their fiduciary responsibility to foster the financial success of the Foundation and has the responsibility to know the budget, including the sources of revenue as well as expenses.
Time Commitment
In addition to dedicating time to attend Board meetings, directors are expected to attend fundraising events and participate on at least one committee that typically meet separately during the year. Currently the board meets four times per year with meetings lasting 2-3 hours. See the summary chart below for more details.
Estimated Time Required
- Preparation for Board Meetings - One to two hours per month
- Board Meetings - Four to five meetings per year; two to three hours in length
- Board Committees and Related Preparation - Four to six meetings per year; generally one to two hours in length with one to four hours per month in preparation, based on workplan
- Other Related Activities - Time will vary and will include fundraising events, the annual scholarship luncheon and ProStart Invitational