I put this quick summary together for something else, but I think it is worth a share:
An effective governance model has several features. First, it is fully transparent. All stakeholders should have access to organizational structures and processes. Second, it is understood. Both those serving within an organization and the clientele of the organization should have a full understanding of how the organization functions. Third, it fosters efficient communication. Different committees and sub-committees should be able to communicate with each other quickly through established and understood channels. Fourth, it is logical and mission-driven. Organizational governance structures should reflect the mission of the organization, and be logically designed to put decision-making authority in the hands of those most qualified in any specific policy area. Fifth, it is inclusive of all stakeholders. Those serving in formal positions should be representative of the organizational as a whole.