​I have been aware of several organizations who have used advisory boards - particularly for recruiting young, executive talent. Mostly used as a fundraising arm - but a way to vet for future board service. Who to invite I think depends on your ultimate goal. How frequently to meet - again depends on the task. Is the group being convened to support an event? Fundraising? A specific program? Definitely set expectations - just as you would for a potential board member. And have a specific purpose. It's hard to "engage deeply" if you don't have a goal or target. I'm inclined to say the ED should be the liaison (or another appropriate senior staff member), but a board member should attend meetings as well, or at least be available to answer questions, help set expectations. There will be growing pains, but with proper guidance, recruitment and expectations - an advisory board can be a strong asset and expand the organization's circles of influence. Good luck!

Things that are important to me as an ED - in addition to KPIs - are organizational culture and staff relationships; Other areas that are on my ED scorecard: revenue/cost management and not just fundraising but fundraising diversity. Major donor development, grant activity and donor retention. measure performance against strategic milestones and then some measure of program impact.