Governance/Administrative Best Practices - November 20, 2008
Nonprofits and Foundations are under increased scrutiny these days from Congress, the I.R.S., state and local officials, the media and even members of the general public. The common threat running through all of this scrutiny are concerns regarding organizational accountability and transparency.
The I.R.S. is increasingly focused on internal governance as an indicator of legal and tax compliance. As a result, the revised Form 990 asks numerous questions regarding internal policies and procedures. Most new policies and procedures must be adopted by the end of the organization's tax year beginning in 2008 (by December 31, 2008, for calendar-year filers) in order to be reported on the 2008 Form 990. While private foundations do not file the Form 990, most of these policies are appropriate for private foundations and will likely be incorporated into the Form 990-PF in the future. As a result, nonprofit leaders wishing to avoid I.R.S. attention should be striving to implement "best practices" throughout their organizations.
This session explored the range of best practices relating to:
- Board Structure (Independence, Size, and Composition) - Does ours pass muster?
- Financial Audits and Audit Committees - Should we have an audit or an audit committee?
- Code of Ethics - What is it?
- Conflict of Interest - Are they required? What does Arizona law say?
- Document Destruction and Retention and Whistleblower Policies
- Compensation Policy - Should we implement one?
- Gift Acceptance and Fundraising Policies - Do we need them?
- Formal Scholarship Guidelines - Are they required?
- Grant Procedures - Can we articulate them?
- Recordkeeping Practices - Do ours pass muster?
Our Speaker: Attorney, Ellis Carter, Fennemore Craig, P.C.
Ms. Carter's law practice is devoted exclusively to advising tax-exempt and non-profit organizations with respect to the corporate, tax and regulatory laws that are unique to non-profits. Ms. Carter primarily represents grant-making foundations, health care institutions, religious institutions, and schools. She has been selected by her peers for inclusion in Best Lawyers in America, Non-profit/Charities law (2007-2008) and is rated "AV" (the highest rating available) by Martindale Hubble.
Click here to access the PowerPoint presentation from this program.
Thank you to 
for sponsoring this program.