Comparing 501(c)(3) vs. 501(c)(4) for Nonprofit Startups

A nonprofit organization organized and operated for charitable purposes may be exempt under Section 501(c)(3) of the Internal Revenue Code while a nonprofit organized and operated for social welfare purposes may be exempt under Section 501(c)(4) of the Code. We are often asked about the difference between the terms “charitable”...

Duty of Loyalty – Part 2

In our earlier post on the Duty of Loyalty – Part 1, we discussed conflicts of interest, self-dealing (under California law), and excess benefit transactions. In this post, we’ll examine other aspects of the duty of loyalty: confidentiality and corporate opportunities. This post continues to address these fiduciary issues from the perspective of a...

El ABC de las Organizaciones Sin Fines de Lucro by Lisa A. Runquist

The ABCs of Nonprofits, now in its second edition, is an excellent resource for nonprofits, their leaders, and their advisors on many of the legal issues affecting nonprofits. Author and highly respected nonprofit organizations attorney Lisa Runquist has just made this valuable book available in Spanish. Here’s what Lisa...

Duties of the Treasurer of a Nonprofit Corporation

A Treasurer is typically charged with overseeing the management and reporting of an organization’s finances. Generally, as with other officer positions, the specific duties of the Treasurer are stated in an organization’s bylaws. Since an organization’s financial management is directly tied to the Treasurer’s responsibilities, the Treasurer’s execution of...

Take Action Today to Protect the Nonprofit, Religious, and Foundation Communities!

So far, 2,500+ charitable nonprofits, community and private foundations, and for-profit entities have signed the Community Letter in Support of Nonpartisanship to protect the 501(c)(3) community from the ravages of partisan politics.  The NEO Law Group is proud to have been one of the first organizations from all 50 states to have signed. Why? Because if the proposal...