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Leadership

Common Good recommends the following leadership structure for Common Good Communities. In the Common Good Democracy, each community rules itself independently (with oversight by its neighboring communities). So each Common Good Community may adopt this recommended structure, or modify it, or use something else altogether.

Members control, within each Common Good Community, how Common Good Credits are issued, what the community's investment priorities will be (in broad terms), and in some cases whether to invest in a particular industry or company.

A Board of Trustees in each community is responsible for balancing those investment priorities against the community's policies on prudent investment and compliance with any state and federal regulations. It is essential that the Trustees be chosen in a way that guarantees diverse business expertise while faithfully representing the members, remaining true to the Common Good Community's overall mission to advance the common good of all. Trustees are responsible for pre-screening loan applications and for wording the questions and options that members vote on. There should be at least three Trustees.

Each Common Good Region (eventually at least one per state, province, or country) operates as a collaboration of its constituent Common Good Communities.

Nomination Procedure

Trustees do not run for office. They are nominated automatically by members' choices of ongoing proxies, as described in the section on Representatives. The N+3 most trusted willing representatives -- that is, the representatives who have recently voted on behalf of the most members and who have agreed to serve -- appear on the ballot for N seats on the board. Members choose from among them by multiple-choice vote.

Qualifications

Trustees serve staggered 3-year terms and are responsible for training subsequent directors. Trustees should have significant business and/or financial experience, creativity, common sense, a record of service to the community and proven ability to handle responsibility, working effectively both independently and cooperatively. Trustees should be paid an hourly rate that falls between the 50th and 75th percentiles of hourly rates in the Common Good Community's geographic area (typically between $20 and $25 an hour).

Committees

The Trustees have responsibilities similar to a bank director's. Trustees may handle these responsibilities in committees, something like this:

  1. Executive Committee (4 members). Authorized to act on behalf of the full board between its regular meetings. Reviews and coordinates information from other committees. Composed of the chairs of the other committees.
  2. Common Good Committee (3). Responsible for focusing on and upholding the common good of the members, the wider community and the world. Oversees the democratic process and potential collaborations with nonprofits and with other Common Good Communities. Identifies entrepreneurial opportunities -- new industries needed in the community that might be launched with Common Good funding.
  3. Technology (2). Oversees development and maintenance of hardware, software, and communications technology used by the community's financial and democratic decision systems.
  4. Audit Committee (3). Ensures the community complies with all applicable laws and regulations. Oversees internal controls, hires and communicates with independent auditors, makes recommendations to the board, based on auditor's reports.
  5. Asset, Liability and Investment Committee (3). Oversees capital, funding, and asset allocation. Manages risk. Ensures diversity of investments, adequate capital and liquidity and low exposure to interest rate fluctuations. Establishes and revises lending policies. Sets standards for appraisal of collateral. Reviews and approves (or disapproves) unusual loan applications.