Final answer:
The statement regarding nonprofit boards being elected by local citizens, appointed by government bodies, or invited by existing members is true. Nonprofits like hospitals or universities serve charitable, religious, or educational missions and their governance structure may vary, including board member election or appointment methods.
Step-by-step explanation:
The statement 'Typical Nonprofit (Board of Trustees), such as a hospital or university, may have board members elected by local citizens, appointed by government bodies, or invited to serve by existing members' can be regarded as true. Nonprofit organizations, including hospitals and universities, operate differently compared to for-profit businesses. Their primary mission is to provide charitable, religious, or educational services rather than making a profit.
Board members may be elected or appointed in various ways. In some cases, local citizens elect the nonprofit's board of trustees, particularly if the organization is heavily involved in community services or local education. Other times, government bodies might appoint members if the organization serves a broader public interest. Existing members of the board might also invite new members to ensure continuity and adherence to the organization's mission and values.