Governance Issues

As the IRS and state regulatory offices take more interest in how nonprofit organizations govern themselves, we can help with the following areas:

  • Board structure
  • Responsibilities and liabilities of Boards and Board members
  • Conflict of interest policies
  • Record keeping, including retention and destruction policies
  • Director and key employee compensation
  • Unrelated business income and the creation of related for profit entities
  • Program-related investments and L3Cs (Low profit Limited Liability Companies)
  • Avoiding excess benefit transactions
  • Staying compliant with IRS filing requirements (Forms 990, 990-EZ, 990-T, and 990-N)
  • Representation with the IRS including abatement of penalties
  • Reclassifying organizations with the IRS (e.g., from private foundation to public charity status, or from 509(a)(2) to 509(a)(1) status.
  • Providing legal opinions regarding changes in activities, proposed programs and transactions, and other matters
  • Fundraising filings
  • Compliance with fundraising regulations
Practice Area(s): Non Profit and Tax Exempt