For nonprofit leaders, ensuring proper notice of board and member meetings might seem like a minor administrative task, but it’s anything but. Failing to give legally compliant notice can undermine board actions, create internal conflict, or even expose the organization to liability. Whether your nonprofit is large or small, holds virtual or in-person meetings, sends …
For many nonprofits, “membership” can be a confusing concept. Some organizations use the term for supporters who receive perks like free admission and newsletters, while others grant members legal rights such as voting on the board or approving major decisions. These differences stem from whether a nonprofit has statutory members under state law or uses …
Starting a nonprofit is a mix of art and science. One of the highlights of our law practice is getting to work with founders of new nonprofit organizations to help make their vision a reality, whether they’re seeking to launch an international film festival, form a family foundation for philanthropic endeavors, or start a new …
The decision to establish an endowment may be prompted by the acceptance of a particular gift, a desire to establish a perpetual fund in honor of the organization’s founder, or the need to ensure the organization’s financial sustainability. The principal of an endowment fund – the original gift or gifts that comprise such fund – …
Losing your tax-exempt status or your good standing with a state agency can be a stressful experience for any nonprofit. However, understanding why it happened and how to regain your status is the first step toward getting back on track. Whether the revocation or loss of good standing stems from the Internal Revenue Service (IRS), …
Donor-advised funds (DAFs) are an increasingly popular way for individuals to manage charitable donations while providing an excellent potential funding source for charities. As nonprofit leaders and fundraisers look to diversify revenue, understanding how DAFs work, their benefits, and their challenges can empower organizations to build long-term donor relationships and financial stability. What is a …
