Dive Brief:
- While sitting on the board of trustees at a college or university used to come with little responsibility besides writing a check, institutions are now looking at the skills trustees can bring to the table.
- The New York Times reports that financial and political pressures on schools have helped changed the landscape, encouraging them to dig deeper beyond traditional donor circles and find people willing to work and contribute more of their time.
- This has expanded diversity, and statistics from the Association of Governing Boards of Universities and Colleges show that in 2010, more than 30% of trustees were women, 7.4% were black, and 2.4% were Hispanic or Latino. Compare that to 41 years before, when just 12% were women, 1% were black, and Latinos were virtually nonexistent.
Dive Insight:
Boards of trustees contribute to the direction of an institution. While the vast majority of these board members still donate to the college or university for which they serve, a new focus on the skills the board members bring to the table is likely a positive step for institutions across the country.
Diversity alone is a major factor. Having more people from different backgrounds and different life experiences prevents as much groupthink in the boardroom. As colleges look to diversify the ethnic makeup of their student and faculty populations, having someone who is black or Latino on the board could help convince prospective members of the institutional community that there is a commitment to such diversity at all levels.