Basic idea/need:

Our Advisory Board is a structured and collaborative method for Improve Startups organization to engage with external advisors. Advisory Boards act as a sounding-board for either the owners, directors, or shareholders of our company.

An advisory board is a volunteer group formed to give advice and support to a nonprofit's board of directors or executive staff. ... Rather than fundraise, members of this advisory board could provide input on the organization's work.

An advisory board is a select group of “independent” people who provide advice and support to the owners/ shareholders/directors of a business. They provide nonbinding strategic advice to organizations and hence are informal in nature. This gives greater flexibility in how they are structured and managed, when compared to a board of directors.

The functions?

The function of our advisory board is to offer assistance with anything from marketing to managing human resources to influencing the direction of regulators. Advisory boards are composed of accomplished experts offering innovative advice and dynamic perspectives.

What is an advisory board position?

The executive team or the board of directors selects an advisory board – an informal group of experts. An advisory board provides valuable assistance to a company but is not financially liable to the company or its shareholders.

Non-Profit compensation.

Advisory boards can offer meaningful compensation. When one believes in an organization and its leadership, foregoing tangible financial benefit in the near-term can pay off. ... If you enjoy the work and believe in the organization, then a focus on the long term might pay off in a big way.

Role of Advisory Committee

An advisory committee is a collection of individuals who bring unique knowledge and skills which augment the knowledge and skills of the formal board of directors in order to more effectively guide the organization.