Here are some of my favorite posts of the week in the areas of nonprofit organizations, corporate governance, philanthropy, and social enterprises:
- Emily: California's $15.7 billion deficit: Brown Proposes Drastic Cuts to Calif. Social Programs, Education via Nonprofit Quarterly – http://bit.ly/J8HaAr
- Sustainable Law Group: New NY nonprofit rules limit executive compensation & impose new reporting requirements – timesunion.com/l
- Foundation Center DC: Nice summary of yesterday's House hearing on NPOs: http://ow.ly/aYCoy
- Nonprofit Times: The Top 10 Nonprofit Risks – http://bit.ly/JAoy9U [Ed. Short and simple and so important to consider.]
- Gene: Make sure your Form 990 can withstand scrutiny – "Many Nonprofits Misreporting Solicited Donations" – http://j.mp/ITELWP
- Gayle Gifford: My advice to biz people joining nonprofit boards – http://bit.ly/J2bola
- Debra Beck: New post: 10 ways presidents really lead #nonprofit boards – http://bit.ly/Kk9gFw
- Omidyar Network: 'ReCoding Good: Part 5'. Rob Reich & Lucy Bernholz explore use of private resources for public good – http://bit.ly/L1rR84 (Stanford Social Innovation Review)
- Rob Reich: Inside story on Citizens United at the Supreme Court: John Roberts' fingerprints everywhere. New Yorker – http://nyr.kr/McwNMS
- Nonprofit Quarterly: Rich Cohen's recommendations for a new regime of transparency & disclosure in the nonprofit & philanthropic sectors - http://owl.li/aQW3F
And some bonus tweets from the CEB presentation: California's New Social Purpose Corporate Entities presented by Todd Johnson, Susan MacCormac & David Levitt:
- Social & environmental shareholder resolutions filed under SEC 14a-8 up 50% in last 10 years; 400 in 2010 & 2011.
- Sustainability Accounting Standards Board (SASB) indicators are coming sooner or later; be prepared.
- Pass-throughs LLCs owned by nonprofits – unrelated business activities still get attributed to nonprofit (not ideal).
- LLC, while very flexible for socent purposes, not ideal for institutional investors.Possible to create a charitable trust in flexible purpose & benefit corporations. Be careful in drafting.
- Choice of State is very important for benefit corporations – great variations (CA may have 3rd party suit risks).
- Uncertainty re: risks of director liability with new governance standards. Expect higher D&O insurance costs for benefit corporations.