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When I'm asked what boards of theological schools should be doing in these tough economic times, that's my response: "What you should have been doing all along." Even in extraordinarily tough times like these, the chief duty of a board is the same-to provide a school with the best possible governance leadership. Schools that have been ignoring the board's development will emerge from the next few years the worse for wear, but those with a long-running commitment to building up the board will almost certainly see a strong return on their investment.

For a board, excellence in governance is the whole point-the reason for being. Yet exemplary board work is almost always undervalued, even by the board itself. In part, that's because board success is often equated with the size of the members' end-of-year donations. Now there's no denying that significant and sacrificial giving by board members is critical to the financial well-being of a theological school (I'll say more about this later), but money is only one of the many gifts that board members bring to an institution. 

Article from: Spring 2009

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