Merriam-Webster defines a best practice as “a procedure that has been shown by research and experience to produce optimal results and that is established or proposed as a standard suitable for widespread adoption.”
The board of a private club is a fiduciary body charged with the same legal duties and responsibility to adhere to best practices as any other. Unfortunately, efforts to identify, document, and disseminate best practices specific to the needs of club boards have been slow to permeate the industry, most likely due to its decentralized nature and the frequency of board and management turnover. The focus of this whitepaper is on research designed to evaluate the understanding of and alignment around identified best practices in club governance. The annual Club Governance Survey is designed to evaluate the understanding of and alignment around identified best practices in club governance. The Club Governance Survey has two distinct goals:
- The survey is used to gather information and compile survey findings in an annual report which advances the industry’s awareness and understanding of best practices for club governance.
- The survey also functions as an effective self-evaluation tool for individual club boards. It is designed to provoke thought, fuel productive discussion and promote widespread adoption of governance best practices.