Involvement of Nonprofit Board of Directors

Recently I came across an article by Accounting Today that discussed a survey of over 100 not-for-profit leaders who were asked to gauge what they felt about their board members and those members’ involvement. Most spoke positively of their board but reported some challenges broken down below: 15% of the leaders felt the board carefully …

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Best Practices for Not-for-Profit Organizations

“Best practices” can be a buzz phrase you hear a lot, especially when it comes to governance of a not-for-profit organization.  With the overload of information available to organizations, it’s easy to see why some view the task of incorporating best practices into their own activities as a bit daunting. The following are some “basics” …

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Top 12 Points to Avoid Endowment Confusion

Here are twelve points on how to avoid endowment confusion. These points are in no particular order. (1)  UPMIFA is a uniform law.  Each state has adopted their own version of this law (except for Pennsylvania).  See upmifa.org for more information. (2) If a permanent endowment goes underwater, the negative amount in unrestricted net assets is considered …

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Well Written Shareholder Agreements Avoid Costly Litigation

“A shareholder agreement is an understanding between shareholders and a corporation, under the law, about various aspects ranging from the shareholder duties to rights, in relation to the company. The shareholder agreement is the basis of company inception and paves the way for its future course. It lays down the guidelines about the duties and …

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