Board of Directors overview

Board Composition

Prosper Canada is governed by a volunteer Board of up to 15 Directors plus the CEO (ex-officio, non-voting). We strive to include members from a variety of backgrounds, sectors, and geographic regions to reflect Canada’s diversity to the greatest extent possible. To view our current Board of Directors, please visit our website at Board of Directors.

Role of Board members The Board of Directors is responsible for:

• Establishing the vision, mission, and values of the organization in collaboration withmanagement
• Approving and monitoring progress against strategic priorities and annual operating plans that advance the organization’s mission and goals
• Ensuring that financial assets and any public funds received are stewarded effectively, withintegrity, and in a manner consistent with our policies and statutory obligations
• Reviewing and approving operating budgets and ensuring the longer-term financialsustainability of the organization
• Fostering a diverse, inclusive, equitable and healthy organizational culture and workplace.Developing and approving organizational policies as needed to fulfil its responsibilities

Committees

The Board has an Executive Committee and three active standing committees with the following responsibilities:

• External Affairs Committee – Strategic communications, fundraising, and strategic planning
• Internal Affairs Committee – Financial stewardship and workplace and personnel policies
• Governance Committee – Board recruitment and nominations, Board policies, Board and CEO evaluation

An Audit Committee meets once a year to review and approve our audited financial statements.

Skills and experience

The Board periodically seeks individuals for presentation to the membership as potential Board members. These should possess skills and attributes that complement those of the existing Board, so that the overall diversity and expertise of the full Board is enhanced. Prosper Canada’s Governance Committee periodically reviews the current Board’s diversity, skills and experience and identifies attributes that would enhance the current Board’s capacity and uses these to inform its recruitment and selection of new Directors.

Expectations of Board members

Prosper Canada Board members are directors, ambassadors, and champions of the organization and, as such, are committed to our mission and vision and actively take advantage of opportunities to learn more about Prosper Canada and its work. Board members are unpaid, but are reimbursed for all expenses (e.g., travel, accommodation) incurred in the fulfilment of Board duties.

In keeping with their role as stewards of important community resources, Board members adhere to Prosper Canada’s code of conduct, behave ethically, establish and adhere to sound financial policies and controls, fully declare any potential conflicts of interest, and work to uphold the reputation of the organization at all times.

Board members work as a collaborative team to fulfil their legal, fiscal and governance responsibilities effectively. To this end, they maintain confidentiality where appropriate and respect and support decisions made by the Board as a whole. All members contribute actively and fully by:

• Attending a half-day orientation session upon joining the Board
• Attending 4 regular Board meetings annually in person or by teleconference
• Attending special Board meetings from time to time as required
• Attending a half-day strategy meeting every year (held in conjunction with a regular Boardmeeting)
• Serving on at least 1 Board committee and/or task force
• Preparing for meetings by reviewing meeting materials beforehand
• Participating in Board development and education
• Attending events and functions on behalf of the organization from time to time

Each Board member will spend an estimated 50 hours per year fulfilling his/her role:

• Board meetings
• Committee meetings
• Strategy meeting
• Preparation
• Miscellaneous

Time commitments may occasionally exceed this should Board committees take on multiple or special initiatives that require more than five meetings per year – e.g., recruitment of new Board members, a major strategic review, or fundraising initiative.  

Board meetings are held in person but members may participate remotely if they prefer. Committee meeting are generally held by video conference.