Fiduciary Duties of Georgia Nonprofit Directors
Learn about the meaning of the fiduciary duties of care, loyalty and obedience, and some practical suggestions for carrying these out.
Board of Directors
Conflict of Interest Policies: Disclosure, Monitoring, and Enforcement
The IRS has made it clear that you should have a written conflict of interest policy and it’s a good idea for your organization. Learn how often they should be reporting and the additional compliance steps you need to take. Please note that in addition to the legal disclaimer above, this article contains information that …
Audit Committees and Audit Committee Charters
This alert discusses audit committees – what is the committee’s function, who should serve on it and what are the committee’s responsibilities. The alert also has a sample job description for the committee. Please note that in addition to the legal disclaimer above, this article contains information that is based, in whole or in part, …
Independent Director Alert
Recent developments make it even more important to have directors on your board who are independent and unaffiliated with your day to day business. This article explains exactly what that means to you, and why you may need to take action. Please note that in addition to the legal disclaimer above, this article contains information …
Compensating Insiders – How to Avoid Excess Benefit Transactions and Comply with IRS Rules
The IRS prohibits every 501(c)(3) nonprofit from paying its officers, directors and other insiders too much for any goods or services they provide to the organization. Nonprofits that do not follow these rules, and any officer or director who approved an excess payment, may be subject to taxes, fines and other penalties. This article will …