Renewed Push for Universal Charitable Deduction
14 Mar 2023
Nonprofit Board Member
You serve as a fiduciary to a nonprofit organization. Your role is critical and can be incredibly fulfilling; it can also hold unanticipated confusion, risks and obstacles.
Board service for a nonprofit organization is not for faint-of-heart, but it can be one of best ways possible to contribute to the causes you care the most about. From the beginning of your term of office, through the end of your tenure, FPLG can provide critical governance guidance to you and the organization you serve, ensuring you provide the best possible governance.
Governance
As a Director, you owe various fiduciary duties to the organization, including loyalty, obedience, and inquiry. This requires both a deep understanding of the foundational tenets of tax-exempt organizations and how they must abide by various statutory constraints. FPLG provides the governance guidance nonprofit boards of directors require resulting in generative, intentional leadership.
Executive Compensation
Nonprofit boards of directors must evaluate and ensure the compensation they provide to employees does not exceed what is “reasonable,” or they can incur unwanted attention from charity regulators, including the Internal Revenue Service and the Attorney General. FPLG’s Attorneys can assist you in ensuring, and documenting, that your compensation arrangements are fair, reasonable, and in compliance with both state and federal law.
Personal Liability
In some instances, directors of nonprofit boards can face personal liability for their actions (or for not acting). Specifically, nonprofit directors are responsible for the prudent management of the charitable assets of the nonprofit, and if they are not “prudent,” then they can face liability, and the organization they govern can face revocation of its tax-exempt status. When misappropriation of charitable assets, or private inurement matters arise, FPLG can be an invaluable asset to you in seeking resolution.
Why Clients Choose FPLG
Our Focus: Purpose Driven
FPLG focuses solely on providing legal counsel to purpose driven enterprises, including nonprofit organizations, benefit and social purpose corporations, and individual philanthropists dedicated to improving our communities.
Our Profession: Expert Guidance
FPLG’s team of professionals provide relevant, timely and proactive legal expertise to our clients, in an area where most attorneys do not focus, ensuring they have the best possible information and guidance at their fingertips.
Our Mission: Exemplary Service
FPLG is dedicated to providing client service at a level rarely experienced with traditional attorneys or law firms. Our clients are doing exceptional, purposeful work.; FPLG can do no less.
