Nonprofit Governance Terms

noun a minimum number of members required for a group to conduct business or hold a meeting

adjective related to or constituting a quorum

• The meeting cannot proceed without a quorum of at least 50% of the members present.
• We need at least half of the group to show up for the meeting to start.
• We can't start the meeting until we have enough people here.
• In order for the decision to be valid, we must have a sufficient number of participants present, known as a quorum.

noun a group of individuals responsible for guiding and making decisions on a particular project or organization

• The steering committee met to discuss the budget for the upcoming fiscal year.
• I heard the steering committee is planning a team building retreat next month.
• The steering committee is calling all the shots around here.
• In a way, the steering committee acts as the compass for the entire project.

noun a person who is responsible for the management of finances and funds, especially in an organization or government

• The treasurer presented the financial report at the annual meeting.
• Hey, did you see the treasurer counting the money last night?
• I heard the treasurer is the one who handles all the cash.
• In a way, the treasurer holds the keys to the company's financial success.

noun the action or process of benefiting or being benefited, especially financially

• The inurement of the new policy will benefit all employees.
• The inurement of the new system will make our work easier.
• I can't believe the inurement of the new rules, it's so much better now.
• The inurement of knowledge through experience is invaluable.