Safeguard Against Governance Land Mines
For the past decade or so, scandals involving public companies and the nonprofit sector have pushed tax-exempt organizations into the compliance spotlight. At the same time, nonprofits face significant financial constraints and increased competition for funds, and must demonstrate effective programs and efficient spending. Under continued pressure from government agencies, watchdog groups, funders, and constituents, exempt organizations need to ensure their governance and management practices leave no room for legal or financial error, and effectively advance the organization's mission. This course examines the top challenges to be aware of, as well as recommended policies and practices to minimize liability and maximize effectiveness. Don't miss this opportunity to cover your bases - register today!
- Stay up to date on IRS initiatives, including IRS Form 990 and UBIT.
- Walk through a nonprofit's lifecycle, examining the governance issues that can arise involving fiduciary duties, management practices and conflicts of interest.
- Learn how to avoid executive compensation dangers.
Session Time: 1:00 pm - 2:30 pm Eastern Standard Time
Presenter: David E. Atkin
- Nonprofit Governance: Top Pitfalls
- Governance vs. Management
- Fiduciary Duties of Directors and Officers Under State Law
- Directors and Officers in Discharging Duties
- Difficulties in Dealing with Conflicts of Interest
- Privacy, Security, and Safety Concerns
- Protecting the Organization's Intellectual Property
- Documentation of Actions by the Board
- IRS Focus on Governance - Top Traps
- Political Activity Dangers
- IRS Form 990
- Nonprofit Income
- Federal Tax Law Compliance
- UBIT Liability
- Employment Tax
- Nonprofit Tax Audits
- Executive Compensation Dangers: Difficulties in Determining "Reasonable" Executive Compensation
- Board Governance Liability Pitfalls
- Risks in Working with Outside Professionals and Experts
- Indemnification and Insurance Protection for Board Members: Top Traps
- Managing Risk in Joint Ventures and Strategic Alliances
- Hidden Dangers in the Mission Statement
This fundamental course is designed for attorneys. It will also benefit CPAs and accountants, executive directors, presidents, vice presidents and officers, and trustees.