The Essential Theatre Board of Trustees

FUNCTION

As representatives of the public, be the primary force pressing the Institution to the realization of its mission and opportunities for service and the fulfillment of its obligations to all its constituencies.

DUTIES

Planning

Approve the Institution’s philosophy and review management’s performance in achieving it.

Annually assess the ever changing environment and approve the strategy in relation to it.

Review and approve the Institution’s five year financial goals.

Insure the fiscal and financial stability of the organization through fundraising (giving and getting).

Annually review and approve the Institution’s budget.

Approve major policies guiding the Institution.

Organization

Elect, monitor, appraise, advise, stimulate, support, reward, and if deemed necessary or desirable, change top management. Regularly discuss with the Director matters that are of concern to him/her or to the Board.

Be assured that the status of organizational strength and manpower planning is equal to the requirement of the long range goals.

Approve appropriate compensation and benefit policies and practices.

Propose slate of directors to members and fill vacancies as needed.

Annually approve the Performance Review of the CEO and establish his/her compensation based on recommendations of Personnel Committee and President of the Board.

Determine eligibility for and appoint Board Committees in response to recommendations of the Nominating Committee.

Annually review the performance of the Board and take steps (including its composition, organization, and responsibilities) to improve its performance.

Audit

Insure the Board and its committees are adequately informed through reports and other methods on the condition of the Institution and its operations.

Be assured the published reports properly reflect operating results and financial condition of the Institution.

Insure that management has established appropriate policies to define and identify conflicts of interest throughout the Institution, and is diligently administering and enforcing those policies.

Appoint independent auditors subject to approval by members.

Review compliance with relevant material laws affecting the Institution.