Corporate Governance

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Posted on October 30, 2017

Under Georgia law, government agencies and even some nonprofits are required to make certain meetings and records open to the public. Georgia’s Open Records Act and Open Meetings Act provide broad public access to such records and meetings.

During this webinar, our speaker helps nonprofits understand:

    – When a nonprofit is required to comply with Georgia’s Open Records and Open Meetings Acts;
    – What constitutes an open record and an open meeting; and
    – How to comply with Georgia’s Open Records and Open Meetings Acts

Presenter: Marquetta Bryan of Nelson Mullins

Click here to view the webcast.

Posted on March 14, 2017

U.S. nonprofits that have bank accounts in foreign countries must file a Report of Foreign Bank and Financial Accounts (FBAR) each year to report the existence of foreign financial accounts held outside the United States. Beginning this year, the filing deadline for the FBAR has been moved up to April 15 with a new automatic six-month extension option until October 15, 2017. This change aligns it with the filing deadline for individual income tax returns.

For more information about FBAR, see our article Reporting Requirement for Nonprofits with Foreign Bank Accounts.

Posted on March 11, 2015

Did you get incorporated in one state and then move your operations?

A nonprofit organization’s tax-exempt status is tied to its incorporation. The IRS decides whether to recognize a nonprofit as tax-exempt under §501(c)(3) of the Internal Revenue Code based on its articles of incorporation and bylaws. If your organization incorporates in one state and obtains its §501(c)(3) status then later decides to move states, the organization should not reincorporate in the new state. The organization should instead maintain its incorporation in the original state (including filing its annual registration and reports) and also register as a foreign corporation in the new state, if required to do so under that state’s law. For more information about registering as a foreign nonprofit corporation in Georgia, please see the article attached.

Posted on January 28, 2015

A nonprofit organization that plans to end its operations should complete certain steps including adopting resolutions and making government filings. An organization that closes without following proper procedures could expose itself to lawsuits from claimants and creditors and IRS enforcement actions. This article provides a broad overview of the dissolution process.

Posted on November 14, 2014

A nonprofit’s bylaws define how the organization is governed. Some of the most important items addressed in the bylaws are the roles and duties of directors and officers, the rules for conducting board meetings and electing directors, and the relationship between the nonprofit and any members or affiliates. A well-drafted set of bylaws can enable an organization to achieve its goals.

During this webcast, our speaker will help nonprofits understand:
• The interplay of bylaws with state nonprofit corporation law, and the organization’s articles of incorporation, and policies and procedures
• Best practices for maximizing organizational effectiveness
• The process for drafting and revising bylaws

Presenter: Paul Fancher, Troutman and Sanders

Due to technical difficulties, this webcast is in two parts. Please view both for the complete webcast.

Part 1
Part 2

Posted on July 30, 2014

This article presents the steps for changing the legal name of a 501(c)(3) tax-exempt, nonprofit organization in Georgia.

Posted on July 30, 2014

This article sets forth best practices for a 501(c)(3) nonprofit corporation to consider when determining the size and composition of its board of directors.

Posted on July 17, 2014

This is part seven of an eight part webinar series that provides general legal information about operating a 501(c)(3) tax-exempt, nonprofit corporation. This webinar details the financial responsibilities of the Board of Directors, including approving budgets, reviewing financial statements, and setting internal controls.

Presenter: Denise Devenny, CPA, Vice President of Operations with the Bipartisan Policy Center

Click here to view webinar.

Posted on July 17, 2014

This is part four of an eight part webinar series that provides general legal information about operating a 501(c)(3) tax-exempt, nonprofit corporation. This webinar covers the recordkeeping requirements for nonprofits, including IRS requirements, and best practices for keeping and maintaining other important organizational records.

Presenter: Mark Hoenig, Esq., Weil, Gotshal & Manges

Click here to view the webinar.

Posted on July 17, 2014

This is part two of an eight part webinar series that provides general legal information about operating a 501(c)(3) tax-exempt, nonprofit corporation. This webinar discusses nonprofit governance requirements and best practices, including those for board duties, board meetings, board member rights and liabilities, governing documents, and filings.

Presenter: Holly Gregory, Esq., Weil, Gotshal & Manges (no longer with firm)

Click here to view the webinar.