Discover the tools and techniques necessary to lay the foundation of a rock solid board of directors.
Well-governed nonprofits are more likely to obey tax law, safeguard charitable assets and serve charitable interests than one with poor or lax governance. Directors bear ultimate responsibility for the charity and they should be aware of their fiduciary duties. This topic will address the basic rules and best practices for boards of directors to follow to assist them fulfill their duties. These rules draw upon federal tax laws and state nonprofit laws. Navigating the complexities of the laws become more manageable once one becomes acquainted with the policies that assist directors with identifying the markers to keep their organization on track. Directors can then fulfil their duties and be guardians to ensure that the charitable interests are properly served.
Add to Wishlist
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Fiduciary Duties of Directors
- Duty of Care
- Duty of Loyalty
- Self-Dealing
Fulfilling Director's Responsibilities
- Board Composition and Meetings
- Audit Committees: California Model
Best Practices: Compensation and Self-Dealing
- Public Charities - Intermediate Sanctions
- Private Foundation - Self-Dealing Excise Tax
Governance and Form 990
- Tax Compliance Principles
- Management Policies
Additional Best Practices
- Policies Not Requested or Required by IRS
- Other Laws
Add to Wishlist
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on December 16, 2019.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Add to Wishlist
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Louis E. Michelson, Esq.
Louis E. Michelson, A Professional Corporation
- Principal with Law Offices of Louis E. Michelson, A Professional Corporation
- Practice focuses on planning, charitable giving and other federal, state and local taxation issues for tax-exempt organizations
- He advises public charities, private foundations, religious and educational organizations, and other nonprofit organizations on issues of formation, management, joint ventures, planned giving and board governance
- Speaks regularly on nonprofit and tax exemption legal matters
- Lecturer at UCLA Extension on tax issues for nonprofit organizations
- Immediate past chair of the Nonprofit Organizations Committee of the Business Law Section of the California Lawyers Association
- J.D. degree, UCLA School of Law; M.S. degree in accountancy, DePaul University; B.A. Degree, with general honors, University of Chicago
- Can be contacted at 310-843-0700 or [email protected]
Add to Wishlist
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
Additional benefits include:
- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
Access to all training products for one year
$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.