If you are following this series on Servant Leadership, you may be wondering about the term itself. Servant Leadership is based on the premise of being a leader in a nonprofit organization, which has some differences from leadership in a for-profit corporation. The primary difference is that you are entrusted with the assets of the other members. To fully understand this concept we first need to understand what are the assets with which a community association board member is entrusted? Here are the general surface answers:
- The common elements in the community such as pool, club house, exteriors of buildings, tennis courts, chairs in recreation room, etc.;
- The cash in the association’s bank accounts;
- Other financial assets like CDs, money market accounts.
But, what about non-tangible assets like property values, social interactions and community pride? These too are assets of the association and you, as a board member, hold them in trust for the members of the association. Are there other assets in your community? You may want to take a few minutes at your next board meeting to brainstorm all the assets in your community so all board members understand what you are entrusted to preserve, protect and enhance.
So now that you know what you are entrusted with, the next question is how do you fulfill that trust? You do so by always being aware of your fiduciary duty as explained in more detail in this article.