The federal government supports the work of nonprofits by offering them tax-exempt status. Because of fraud relating to nonprofit organizations, the federal government is taking a stronger stance against nonprofits that abuse the privilege of being tax-exempt. The IRS asks…
Most organizational founders of nonprofit organizations find that setting up a nonprofit organization is a bit daunting, at least in the beginning. One of the necessary tasks is writing the organization’s bylaws. The bylaws serve as a guidebook for the…
Generally, a resolution is something that a group resolves or agrees to do. As it pertains to boards of directors, the outcome of a vote could be called a resolution. Certain situations call for something stronger than a vote. In…
Banks and credit unions have many similarities and a few distinct differences. Banks and credit unions offer many of the same services, such as checking and savings accounts for individuals and businesses, money market accounts, certificates of deposit, loans and…
Board meetings usually have jam-packed agendas. It’s nearly impossible to dedicate enough time to thoroughly vet and discuss every agenda item. When board discussions take up too much of the board meeting time, it’s generally best to move the item…
Most people get suspicious about the things they can’t see or hear. The financial crisis of 2008 and some bad headlines have made the general public more knowledgeable and observant than ever before. As a result, they’ve also become more…
Best practices for governance give us some general guidelines about the expectations for the individual who serves in the role of executive director. The guidelines are broad because every organization has different and unique needs. A one-size-fits-all approach to the…
The advancement of technology has brought risks of data breaches worldwide. While we’re not seeing any sort of global authority on how to handle data breaches, countries across the globe are taking various forms of action. Some countries are making…
When the Patient Protection and Affordable Care Act came into effect during the Obama administration in 2010, the hope was that the Act would provide affordable healthcare for all. While the early years of the Act generated some sense of…
Board directors covet their company’s reputation because it’s their most valuable asset. A recent joint study by Deloitte and Forbes affirmed this conviction. Their study surveyed 300 senior-level executives who agreed that their company’s reputation held the highest area of…
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