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A board of governors is usually the governing board of a public entity or non-profit organizations. It is the public equivalent of the private board of directors.
Many public institutions, such as public universities, are government-owned corporations. The British Broadcasting Corporation was managed by a board of governors, though this role has now been taken by the BBC Trust. In other cases, government services are provided by "independent establishments," which provide an environment mixing a corporation and a government agency (see public-private partnership). These, such as the United States Postal Service, are governed by a board of governors. A more well known example is the Federal Reserve System, which is also partially governed by a board of governors.