I also found the section of Charity Entrepreneurship’s Book on Boards (Chapter 26: “Wisdom”) really interesting, from the perspective of the “CEO”s.
They suggest having two separate “boards”:
An informal “Advisory Board” that helps with advice, mentoring, domain expertise, signaling, fundraising and personal support; but has no legal power. Example terms: https://bit.ly/CSHterms
A formal Legal Board that handles finances, legal compliance, evaluates the executive team, and also provides advice
Lots of comments on Hacker News and LessWrong.
I also found the section of Charity Entrepreneurship’s Book on Boards (Chapter 26: “Wisdom”) really interesting, from the perspective of the “CEO”s.
They suggest having two separate “boards”:
An informal “Advisory Board” that helps with advice, mentoring, domain expertise, signaling, fundraising and personal support; but has no legal power. Example terms: https://bit.ly/CSHterms
A formal Legal Board that handles finances, legal compliance, evaluates the executive team, and also provides advice