There are several misconceptions about the legal requirements of non-profits that not only pervade the general public, but also creep their way into the media and in non-profit governance and management. Below are a few such myths followed by a debunking overview.
Nonprofits are increasingly subject to growing regulatory burdens and high expectations from donors, clients, and the public. One way nonprofit boards can promote compliance with
The nonprofit Board/CEO relationship can make or break the success of a non-profit organization. The Board of Directors is the collective boss of the CEO/Executive
When setting up a non-profit organization, many people overlook the importance of drafting nonprofit bylaws that are customized to the organization’s unique needs. As the
A nonprofit embezzlement incident is emotionally devastating, causing nonprofit leaders to question their own judgment and management ability. It erodes the public’s trust, jeopardizes grants
Nonprofit board members must understand and fulfill their fiduciary duties or they expose the nonprofit they serve and themselves to risk.
For a nonprofit organization to succeed, it must have a high functioning Board. While management deals with the day to day operations (planning, organizing and executing the organization’s programs), the Board of Directors provides oversight over the organization’s management, finances, mission, and strategic goals.
All Boards make recruiting mistakes. They carefully vet and enthusiastically elect a new Board member. They hold an orientation, provide information about the organization’s programs, set
A nonprofit’s board of directors is legally responsible for exercising the care an ordinarily prudent person in a like position would exercise in overseeing the organization’s operations. This includes the organization’s finances and legal compliance.
The IRS recently issued a favorable ruling for nonprofits looking to move their domicile from one state to another. Common reasons that nonprofits seek to change their state of incorporationinclude a change in physical location, increasing regulatory burdens, or a lack of meaningful connection to the original state of incorporation. In such cases,
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