October 1, 2015 - Read the full Your Mark on the World article and watch the interview here: http://bit.ly/1MHBxHu. Subscribe to this podcast on iTunes by clicking here: http://bit.ly/ymotwitunes or on Stitcher by clicking here: http://bit.ly/ymotwstitcher. Ask anyone in the nonprofit world and you’ll hear that budgets are constrained. Running a nonprofit, however, is not easy. Brent Andrewson, an attorney at our sponsor Kirton McConkie, offers these three surprising legal tips to help. Be mindful of conflicts of interest. If you have a great board of directors, officers and employees it is likely you’ll find your organization navigating conflicts of interest from time to time. The existence of a conflict does not mean that you cannot proceed with a proposed project or transactin, but it does mean that you need to proceed carefully in this nuanced arena. Be sure to know when you need to register with a state for fundraising there. Forty states require nonprofits to register. Just having a website doesn’t trigger registration requirements, but other normal solicitation activities, including crowdfunding may. Being a nonprofit triggers regulation; it doesn’t exempt you from it.The tax, fundraising and other implications of nonprofits subject organizations to increased–not reduced–scrutiny from regulators. Please consider whether a friend or colleague might benefit from this piece and, if so, share it.
Share this post