Governance
A nonprofit has no owners. What it has instead is a governing body holding assets in trust for a written purpose, and a set of instruments that record how it behaves. Six entries.
Plate · GovernanceA nonprofit has no owners. The board is what stands in their place.
Entries in this section
- The board
Care, loyalty and obedience — duties held by the board itself, not by the staff it hires.
- Bylaws and quorum
How many people have to be in the room before the organisation can be said to have acted.
- Minutes
A contemporaneous record of what was decided and who was in the room.
- Conflict of interest
Disclosure, recusal and an annual signed statement — and a public answer on Part VI.
- Excess benefit
The individual who received the benefit, not the organisation, pays the excise tax.
- Part VI of the return
Answering, in public, whether each policy exists — not having the policy.