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90-minute live streaming program
  • August 4
  • 1:00 - 2:30 pm EST

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OnDemand Course

Dissolving a Nonprofit Organization

August 4

Gain insight into common issues that may arise during dissolution and how to guide an organization through the process from start to finish.

Boards of nonprofit organizations may reach a point where they recognize it is no longer feasible to continue operations. But the directors may not be familiar with the dissolution process or understand that there may be alternatives to that process that may be simpler and sometimes quicker, such as merger, depending on the dissolution processes in their state. The Board members may also not realize that, at least in some states, the organization will have to be in compliance with annual regulatory filings, satisfy all of their debts and obligations (or file for bankruptcy), and ensure that the intended beneficiaries of assets upon dissolution have similar purposes or are willing to restrict the received assets to purposes similar to the dissolving organizations and to even narrower purposes if restricted by the dissolving nonprofit’s donors. The topic will describe the general dissolution process and timeline, which varies among the states, explain alternatives and provide tips on ensuring that necessary steps are taken in advance to facilitate a smooth dissolution process. This information is critical to ensure that board members comply with their fiduciary duties to further the purposes of the organization and wind down its operations in compliance with legal requirements.

Learning Objectives

  • You will be able to describe the general framework of the dissolution process.
  • You will be able to discuss the options for and alternatives to dissolution.
  • You will be able to identify the steps and timeframe for dissolution.
  • You will be able to recognize issues that need further review before commencing the dissolution process.

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Why Lorman?

Over 34 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

Why Dissolution?
  • Mission Accomplished or No Longer Relevant or Needed
  • Organization Has Become Dormant or Members or Board Have Lost Interest
  • Financial Issues
  • Alternative to Merger
  • Means of Moving to Another State
Range of Dissolution Processes Among States
  • Court Approval
  • Ag Approval Only
  • Neither Ag nor Court Approval Needed
  • Timeline of Process
The Dissolution Plan
  • Identifying the Beneficiaries; Similarity of Purpose
  • Donor-Restricted Assets
  • Complying With the Dissolution Clause in Organizational Documents
Regulatory Compliance
  • Up to Date on All Annual Filings With State
  • Completion of State Dissolution Filings
  • Drafting Judicial Complaint Where Needed
  • Final Form 990 After Dissolution Completed
Thorny Issues
  • No Self-Help Pre-Dissolution Transfer of Assets
  • Satisfying All Outstanding Debts and Liabilities
  • Bankruptcy?
  • If Assets' Purposes Needed to Be Modified; Cy Pres Requests
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Why Lorman?

Over 34 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 January 28, 2020.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • CPE 1.8 including Business Management and Organization 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Business Management and Organization for 1.8 hours. Prerequisite: basic knowledge of nonprofit governance issues. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for accountants, executive directors, officers, board members, controllers, CFOs, tax managers and marketing professionals.

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Why Lorman?

Over 34 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

Anita S. Lichtblau

Anita S. Lichtblau

Casner & Edwards, LLP

  • Partner in nonprofit practice of Casner & Edwards, LLP, Boston
  • Represent hundreds of nonprofit organizations, ranging from small start-up organizations, to large national educational, cultural, human service and health-related membership organizations and trade associations
  • Areas of legal expertise include nonprofit formation and affiliations, government and foundation grants and contracts, tax exemption issues, governance, cy pres and deviation actions, dissolutions, fundraising, lobbying and political activity, and employment and executive compensation
  • Former co-chair of Tax-Exempt Organization Section of Boston Bar Association (“BBA TEO Section”): co-chair of Massachusetts Nonprofit Act reform working group of BBA TEO Section; member of BBA TEO Section Steering Committee
  • Presented workshops and webinars at American Boston Bar Association conference, Boston Bar Association, Massachusetts Human Services Providers Council, Massachusetts Continuing Legal Education, Lawyers’ Clearinghouse, and many more conferences
  • Contributed an essay entitled “Endowments or Restricted Gifts: Accessible or Hands-Off?” to the book The Legal Guide to Museum Professionals, edited by Julia Courtney and published in 2015 by Rowman & Littlefield
  • Former executive director/general counsel of Community Action Program Legal Services, Inc. (“CAPLAW”), a national nonprofit organization providing legal training and consultation to over 700 nonprofit Community Action Agencies nationwide
  • Conducted hundreds of workshops and webinars across the U.S. on nonprofit governance and other related topics at state and regional conferences of community action agencies and other nonprofits
  • Wrote numerous articles and other publications for CAPLAW and other community action national organizations, including “Tools for Top-Notch Community Action Agencies: A Practical Approach to Governance and Financial Excellence”
  • Former general counsel of large human services nonprofit organization in Boston
  • Graduate of Harvard Law School and Cornell University
  • Can be contacted at 617-426-5900 ext. 362 or [email protected]
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Why Lorman?

Over 34 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.

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Product ID: 408944
Published 2020, 2021
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