Nonprofits are increasingly going paperless with their documentation, and all organizations should have protocols for addressing document management, retention, and destruction. So how should responsible nonprofit organizations develop new document retention policies or upgrade their old policies, in light of technological…
Is your nonprofit up to date on its government filings? Many nonprofits have recently filed their IRS Form 990 annual information returns. But several more government filing and reporting requirements may apply for nonprofits, in distinctly separate legal compliance areas.…
When should a nonprofit establish – and maintain – an endowment? The term “endowment” typically refers to funds set aside, either internally within a nonprofit or externally through a separately-created entity for the charity’s benefit. Whether internally maintained or separately developed,…
Is your nonprofit at risk for fraudulent financial activity? Nonprofit organizations tend to be more trusting of their employees, have less resources devoted to administrative costs, and have less stringent financial controls than for-profit organizations. They are more likely to be victims…
Corporate mergers and their legal kin, namely asset transfers and consolidations, sound like business concepts, but they bear enormous potential significance for nonprofit organizations. Nonprofits can use these corporate transitions as powerful strategic options for combining and leveraging shared visions…
Section 501(c)(3) organizations are commonly known as “charities.” As such, they qualify for exemption from income taxes, and their donors may claim tax deductions for contributions. Other tax benefits may apply as well, such as exemptions from state property and sales…
The W&O Blog occasionally goes outside the firm to seek helpful insight from other experts and innovators in the nonprofit sector. This guest post is by Sherry Quam Taylor of QuamTaylor LLC. Sherry provides organizational and development counsel to equip nonprofit…
Does your nonprofit need some strategic planning? What does that mean, and what legal aspects should your nonprofit consider? The ALS Association is a useful and well-known example of how strategic planning provides pivotal opportunities, and raises important legal questions, for…
Planning is key for any nonprofit – as it gets started, as it grows with new funding opportunities and program activities, and as pivotal changes occur (internally and externally) that may dramatically affect its impact. Also essential [are] strong leadership, legal…
For ongoing nonprofit legal compliance, what annual reports need to be filed? Three key types of reports may be required, depending on the specific state involved and the nonprofit’s particular activities: (1) IRS – a version of the IRS Form…
