For senior executives contemplating the next phase in their career, serving on a board can be both a powerful professional milestone and a platform to contribute meaningfully at a strategic level. But not all boards are created equal. Understanding the distinctions among board types is critical to identifying the best fit for your skills, interests and long-term goals.

At Chilmark Advisors, we specialize in helping executives break into the hidden board market, those positions that are rarely advertised, often filled quietly and almost always through direct, targeted outreach. A critical first step is clarity around the landscape itself: what types of boards are out there and what do they require?

Let’s break down the major board types you should know:

1. Corporate Boards

Corporate boards, also called boards of directors, govern publicly traded or private companies. They’re responsible for overseeing the organization’s overall direction, ensuring accountability to shareholders (or owners) and hiring or evaluating the CEO.

Types within Corporate Boards:

• Public Company Boards: These are typically high-profile and carry significant responsibility and regulatory oversight. Directors must comply with SEC guidelines, Sarbanes-Oxley, and other governance requirements. Compensation is often substantial and members are expected to bring deep expertise and fiduciary discipline.
• Private Company Boards: Often more flexible and less regulated than their public counterparts, these boards still play a critical strategic role. Executives on these boards may have closer relationships with founders or management teams and can make a direct impact on the company’s trajectory.
• Advisory Boards (Corporate): Unlike boards of directors, advisory boards don’t have fiduciary duties. They offer non-binding strategic guidance to company leadership. These positions are ideal for those new to board service or exploring emerging sectors, and often serve as a springboard to more formal board seats.

2. Nonprofit Boards

Nonprofit boards oversee mission-driven organizations, ranging from global NGOs to local arts councils. They are responsible for governance, fundraising and strategic direction, while ensuring the organization stays aligned with its values and regulatory obligations.

Nonprofit board service can be incredibly rewarding, offering a sense of purpose alongside professional networking. While these positions are generally unpaid, they provide valuable governance experience that can enhance your leadership portfolio.

At Chilmark, we often recommend nonprofit boards to executives building their board résumé or shifting into purpose-driven work. They can also provide sector-specific experience if you’re considering a pivot into areas like healthcare, education or social impact.

3. Advisory Boards (Startups & Growth Companies)

Startups and early-stage growth companies frequently assemble informal advisory boards. These are typically composed of industry veterans who provide mentorship, open doors and offer tactical advice in areas like fundraising, scaling, or product strategy.

These roles are usually unpaid or compensated via equity, but they offer a high upside for those interested in innovation, entrepreneurship, or supporting next-generation leaders. Serving in this capacity can also position you well for future board seats when these companies mature.

4. Government or Quasi-Governmental Boards

Executives with interest in public service or policy influence may pursue seats on municipal commissions, regulatory boards, or educational councils. These boards require a deep understanding of public governance, compliance and community accountability.

Though sometimes overlooked, these roles carry weight and offer strong visibility in the public sphere. They also tend to value leadership experience over specific industry credentials, making them accessible for those with a diverse background.

Finding the Right Fit

The right board seat aligns not only with your career experience but with your personal motivations, whether it’s driving shareholder value, creating social impact or shaping the future of an industry.

At Chilmark Advisors, we help executives, like you, enter this selective and often hidden space. Through our reverse search approach, we identify the companies or ventures where your profile will resonate and we guide you to make the right impression, on the right decision-makers.

Understanding the board landscape is the first step. The next is identifying where you can contribute most and where you can grow. With the right tools, targeted messaging, and strategic follow-up, your next opportunity might just be around the corner and it might be waiting behind a door only you can open.