Representing the Nonprofit Organization

Nonprofit organizations are governed by two types of law: state corporate laws which regulate the internal operation of the organization, and federal and state laws which regulate the circumstances under which such organizations are exempt from income and other taxes.  Counsel working with nonprofit organizations must achieve a basic familiarity with both sets of laws in order to represent a nonprofit organization adequately.  This fast-paced, entertaining program taught by experienced practitioner Cliff Ennico will teach you, step by step, how to set up a nonprofit organization, apply for federal and state tax exemptions, and assist your client in achieving its charitable mission.

Learning Objectives:

1. Examine the two types of not-for-profit organizations and the differences between them
2. Gain insight on how to form a not-for-profit corporation or limited liability company (LLC) and put together the governance structure of the organization
3. Determine how to apply for tax-exempt (section 501) status from the IRS and your state tax authority and understand the financial and annual reporting requirements for 501c3 charitable organizations
4. Identify four sources of income for nonprofit organizations and understand the laws regulating your client's funds and fundraising activities
5. Review the three keys to success in a not-for-profit organization
6. Explore how to merge, sell, and dissolve nonprofit organizations