Video

  • 22 minutes

Role of the Board and Fiduciary Duties for Good Governance for 501(c)(3) Organizations

 

When you talk about duties of charitable organizations there are essentially three basic duties of the director.

The three main duties are the duty of care, the duty of loyalty and the duty of obedience. The role of the board of directors of a charity is similar to the role of a for profit board. In both cases the organizations are tasked with managing other people’s money and in both cases they are judged by their success in doing so. But there a big key difference – in the for profit context shareholders are able to hold corporate directors and officers accountable, whereas in the charitable context there is no mechanism by which the organization can be held accountable when is fails to act in furtherance of its mission. Although the government plays an important role in policing and monitoring charitable activities, there is no private right of action available against officers and directors to ensure accountability. The charity board is required to fill this void by ensuring that the organization acts in accordance with its mission through meaningful oversight of operations and policy guidelines in a way that assures integrity and effective management, but without leading to board involvement in the organizations day to day activities. Watch this video for details on the three main duties that directors must maintain.

Runtime: 21 minutes

Agenda

Faculty

Anita Pelletier

Anita Pelletier

Nixon Peabody LLP

  • Counsel in the Rochester, NY office of Nixon Peabody LLP
  • Represented organizations ranging from the very small to the very large on all matters relating to nonprofit governance and related issues; also worked with several organizations to guide them through IRS and regulatory audits; assisted numerous charities in navigating the various rules regarding charitable solicitations in a market that necessitates the use of social media and electronic communications
  • Conducts regular seminars and workshops on nonprofit governance, issues relating to tax-exempt status and charitable solicitations
  • Member of the National Association of College and University Attorneys (NACUA) and a member of the Legal Resources Committee and is also involved with the Greater Rochester Association of Women Attorneys, previously serving as a board member as well as chair of their Media Committee and co-chair of the Program Committee; also a member of the American, New York State, and Monroe County bar associations
  • Received numerous awards for her commitment to pro bono service; in 2003, she received the William E. McKnight Award from the Monroe County Bar Association; in 2005, she received the Legal Aid Society of New York City Pro Bono Award
  • A recipient of Nixon Peabody’s Rodman Peabody Pro Bono Award, winning in 2005, 2006, 2007, 2008 and 2011 to 2015
  • Selected by peers for inclusion in The Best Lawyers in America© 2019 in the field of Nonprofit/Charities Law and has been listed in Best Lawyers since 2017
  • J.D. degree, summa cum laude, Syracuse University School of Law; M.P.A. degree, Maxwell School of Public Administration; B.A. degree in economics, St. John Fisher College
  • Can be contacted at 585-263-1164 or [email protected]

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today

Access to all training products $699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.