A graduate of Stanford University and Harvard University, RoAnn Costin is a successful leader in the finance industry. Serving as managing director of Wilderness Point Investments, she oversees investment activities at the private equity company. In addition, RoAnn Costin is affiliated with several corporate and nonprofit boards.

Before you join a corporate or nonprofit board, you must prepare yourself for the time commitment required. Attending occasional board meetings typically doesn’t fulfill your obligations as a board member. Rather, you’ll also spend time preparing for meetings, going to fundraising events, participating in organizational activities, and working on different committees.

Handling all these responsibilities can take up to 40 hours a month (or more) for some people but the average amount of time people spend being productive board members typically ranges from 5 to 10 hours a month. This amount of time ensures each member contributes properly and maintains an active role in board meetings and other events.

Spending less than 5 hours a month often risks the appearance of being disengaged. But this isn’t always the case. Certain boards have far fewer requirements than others, and it is possible to be an effective board member even if you only invest a few hours per month.