Governance + Ethics + Risk Management
Governance – Board of Directors
Unlike other business entities, nonprofit corporations are generally governed by a board of directors, and there are strict rules on what this board can do. We help you determine:
- The structure of your board, including whether the board should be elected by members, self-perpetuating, or selected by an outside body
- The board’s composition, roles, responsibilities, and training
- Legal and fiduciary duties of directors
- Risk management, including advice on insurance, employment policies, and business procedures
- We also train executive staff and board members
You may be interested in our articles written by Austin, Texas nonprofit lawyer Mollie Cullinane: The Duties of Nonprofit Directors, Are Nonprofit Directors Liable?, Who Owns a Nonprofit, Can the Executive Director (staff) Serve on the Board?, Role of the Board vs. Role of the Executive Director (E.D.).
Governing Documents, IRS Filings, Reports
We draft the documents and file your reports, including:
- Articles of incorporation and/or certificates of formation
- Bylaws
- IRS Form 1023 and 1024, so you can be a 501(c) organization
- IRS Annual Report Form 990
- All those policies you need — Conflict of interest, gift acceptance, document retention, whistleblower, and more
- Fiduciary responsibilities of the board of directors
- State annual filings and reports
You may like to read our articles on Does a Nonprofit File Tax Reports? What is a 990?, What if our Nonprofit Loses Tax-Exempt Status?, Update Government Agencies.
Risk Management
- Indemnification policies
- Insurance coverage
- Regulatory compliance and annual reporting
- Corporate practices and record-keeping