the legal answer is through “first minutes,” a written corporate resolution reflecting a nonprofit corporation’s key first steps. so, if a director has left since incorporation or a new director is to be added, option b should not be used for the first minutes. as with the first minutes, the corporate minutes reflect official actions of the board – and therefore of the corporation. an important remedial step is to review the available corporate meeting minutes and identify what did go right.

our free account and tools will help you get started and maintain your business. the first board of directors meeting typically covers much of the same information as the first shareholder meeting (some corporations even combine these meetings or hold them back to back). this is also the time when officer salaries are typically set, and any remaining initial tasks are wrapped up. we provide a free meeting minutes template for your first board of directors meeting. please enjoy our free minutes template for your corporation’s first board of directors meeting. we have a free template for a sole director initial meeting as well. our free first meeting minute template includes this key information and much more: attendance: the names and addresses of all those present are listed.

your board regularly gathers to strategize and put your organization on the fast track toward its mission. it can do a whole lot of good to remind the minutes-taker why taking minutes effectively is so crucial for the board and organization as a whole. recording by hand has quickly become outdated and infeasible, and as we’ve mentioned, missing crucial notes can open your board up to a host of challenges.

additionally, meeting minutes can have important legal significance in an irs examination and as evidence in courts if, for example, someone challenges the validity of certain actions or positions. there is no hard and fast rule regarding the level of detail to be included in minutes. boards and secretaries tasked with recording or approving the minutes should use their best judgment about the degree of specificity provided in the minutes. according to blue avocado, “the minutes of the meeting should indicate that the board met in executive session, and report on the topic of the discussion, although the specifics (such as the amount of a lawsuit settlement) may be confidential and appear only in a set of confidential-to-the-board minutes or other notes.”  a separate recordkeeping system should be established for such confidential information, which is better not identified as “minutes” to prevent members and others from asserting the right to view such information.

you are ready for your first board meeting! in our first three blog posts, you learned how to write a nonprofit business plan, recruit board members, and create your organization’s budget and fundraising plan. there is a lot to accomplish in your first board meeting. your first board meeting is your chance to set your team off on the right foot. to set your group up for success, have your team spend time discussing the type of intentional community they want to create. in your first meeting, you will need to take several votes. these votes need to be reflected in your minutes to apply for your 501c3 status through the irs.