Description
Discover the tools and techniques necessary to lay the foundation of a rock solid board of directors.Wellgoverned nonprofits are more likely to obey tax law, safeguard charitable assets and serve charitable interests than one with poor or lax governance. Directors bear ultimate responsibility for the charity and they should be aware of their fiduciary duties. This topic will address the basic rules and best practices for boards of directors to follow to assist them fulfill their duties. These rules draw upon federal tax laws and state nonprofit laws. Navigating the complexities of the laws become more manageable once one becomes acquainted with the policies that assist directors with identifying the markers to keep their organization on track. Directors can then fulfil their duties and be guardians to ensure that the charitable interests are properly served.
Date: 2019-12-16 Start Time: End Time:
Learning Objectives
Fiduciary Duties of Directors
• Duty of Care
• Duty of Loyalty
• Self-Dealing
Fulfilling Director’s Responsibilities
• Board Composition and Meetings
• Audit Committees: California Model
Best Practices: Compensation and Self-Dealing
• Public Charities • Intermediate Sanctions
• Private Foundation • Self-Dealing Excise Tax
Governance and Form 990
• Tax Compliance Principles
• Management Policies
Additional Best Practices
• Policies Not Requested or Required by IRS
• Other Laws
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Louis E. Michelson, Esq.-Louis E. Michelson, A Professional Corporation
