A Nonprofit Organization’s Board’s Rights, Duties, Responsibilities, and Liabilities
Board governance of nonprofit organizations has increasingly become more akin to board governance of for-profit corporations after Enron’s debacle produced the Sarbanes-Oxley Act of 2002 (SOX). While no federal nonprofit laws similar to SOX have been passed, the IRS forms and instructions for the non-profit Forms 1023 and 990 are playing a major role in …
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