In many cases the law requires it. Check with your lawyer to see if this applies to you.
Even if it doesn't apply, it is useful to get outside advice. The hard part is getting good advice. Boards should do this, but as the article points out, they rarely do.
I've been on nonprofit boards in the past, and we really did play important roles on advice and some tactical activities related to committees. But the incentives were completely different.
Even if it doesn't apply, it is useful to get outside advice. The hard part is getting good advice. Boards should do this, but as the article points out, they rarely do.