Rules known as "intermediate sanctions" allow the IRS to assess penalties against not-for-profit executives who receive excess compensation -- and the board members who have approved it. Do you and your board know what's considered excess compensation and what's viewed as a conflict of interest during the compensation-setting process?
In the News
It's an age of personal responsibility and legal liability can cause financial ruin for your organization's officers and board members.
Not-for-profit organizaitons that file IRS Form 990 must indicate the number of independent voting members or directors of the governing body. (This is entered on Parts 1 and VI.) The IRS is not the only group interested in these facts.
Many not-for-profit organizations have discovered there can be strength in numbers. In recent years, there has been an increase in the number of collaborations, partnerships and even full-scale mergers in the not-for-profit sector. These joint ventures can conserve resources, help with fundraising and, in many cases, expand the services that each group provides.
Is your not-for-profit the same organization it was three years ago? Are your stakeholders the same now as then? Is your community and its support of your not-for-profit the same?