As you may know, as a community interest company, Baltic Creative is managed by non-executive voluntary board members. With the help and support of these board members, Baltic Creative has gone from strength to strength, exceeding all of our growth plans during our first decade in operation.
Now, 11 years on, we felt that it was time to update our memorandum and articles of association to help grow and diversify our board for the longer term.
All of our board members are here on a voluntary basis, investing their own time to support Baltic Creative’s current management and growth plan and have previously not received any form of financial compensation for their time. As of October 2020, board members will receive an annual fee of £2,400 to help cover any expenses they may incur while in the role. Other out of pocket expenses are also covered including child care and carers costs whilst attending Board, etc. In providing these expenses, we are not only recognising the hard work and contribution of the board’s time and expertise, but also opening it up so that it is more inclusive of people from different backgrounds.
The board will now also consist of no more than seven members, with each individual member only serving a maximum of six years in the role. This will allow the board members to each have clearly defined roles, allowing us to be more strategic, as well as encouraging more diversity as positions open up.
As ever, we have made these changes with our tenants at Baltic Creative in mind, so that we have the best people on board to serve our community and make our growth ambitions a reality.
If you have any questions about the changes we have made, please contact our Managing Director, Mark Lawler via email on firstname.lastname@example.org.