NONPROFIT BOARD RESOURCES
Published by and available from BoardSource
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$29; 86 pages
Members of the governing boards of nonprofit organizations, particularly charitable entities, are fiduciaries – they have various duties and responsibilities, conferred by law, with respect to the organization and its resources. This book provides a summary of this nonprofit legal landscape in easy-to-understand terms.
The book discusses the concept of fiduciary responsibility, observing that this standard means that board members are expected to “treat the nonprofit organization’s assets and other resources with the same care with which they treat their own resources.” A focus is on board members’ duties of care, loyalty, and obedience.
A chapter in the book is a law primer, addressing topics such as organizational forms, basics as to governing boards, acquisition and maintenance of tax exemption, the private inurement and private benefit doctrines, lobbying and political campaign activities, the unrelated business rules, annual reporting and disclosure requirements, and related entities.
The book summarizes basic governance principles and inventories the many policies and procedures that are becoming best practices, and sometimes legally required, within the nonprofit sector. These include policies concerning conflicts of interest, whistleblower protection, document retention and destruction, investments, and gift acceptance. The book enumerates strategies for protecting board members from personal liability, including incorporation, indemnification, immunity laws, and insurance.
The book concludes with two features. One feature is a checklist of ways board members can help shield the organization and themselves from legal difficulties. The other feature is a glossary of relevant terms in nonprofit law.
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Published by Wiley.