Charity Lawyer Blog
Nonprofit Law Simplified
A nonprofit’s board of directors is responsible for establishing the compensation (salary and benefits) for the chief executive (typically referred to as either the Executive Director, the CEO, or the President). Although the IRS does not provide specific dollar amounts or an acceptable range of compensation levels, they stipulate that compensation must be reasonable and not excessive; “reasonable” is defined as the value that would ordinarily be paid for like services by like enterprises under like circumstances.
This is Part III of a four-part series about blockchain technology in the nonprofit sector. In this Part, we cover decentralized autonomous organizations and how
This is Part IV of a four-part series about applications of blockchain technology in the nonprofit sector. Part I of this series introduced blockchain technology
This is Part II of a four-part series covering blockchain technology in the world of nonprofits. In this Part, we discuss smart contracts and
Blockchain technology has disrupted the way we think about many industries. One major sector that has gone overlooked is the nonprofits industry. Unbeknownst to many, the nonprofit sector is a significant player in the American economy. The United States is home to nearly one and a half million nonprofit organizations, employing more people than the construction, finance, and transportation industries.
The end of the year is a busy time for all nonprofits. Because of this, some obligations tend to slip through the cracks. Since the consequences can devastate a nonprofit, it is vital to ensure certain responsibilities are met by year-end.
Internal Revenue Code § 513(a)(1) excludes from UBIT unrelated trade or business activity which is performed without compensation (the “Volunteer Labor Exclusion”).