Effective boards are comprised of diverse members who bring a balance of work, wisdom and wealth. To these responsibilities add “wit” because a board that enjoys working together is more likely to be fruitful. On a high-functioning board, each board member brings one or two of these traits (plus “wit,” which is a proxy for cultural fit). The board as a whole is comprised of a balance of these traits because an imbalance in any one area weakens the board’s ability to ensure an effective organization. What does each mean?