What we commonly refer to as a nonprofit "board" is the governing board of a nonprofit corporation. This board is charged by law with the oversight of the nonprofit organization. Board members have a fiduciary duty and risk legal liability if they fail in their duties of care, loyalty, and obedience. The legal organization and responsibility is what makes a "board" a "board." Only the governing board has decision-making authority related to organizational strategy, budget, and the hiring of the CEO.