As the number and size of nonprofit organizations continues to grow, NFPs are coming under ever-increasing government scrutiny. Soon Congress will require that nonprofits comply with rigorous accounting and governance standards very similar to those set forth for for-profits in the Sarbanes-Oxley Act. If you work for a nonprofit and are concerned about meeting impending changes to tax and finance standards governing NFPs this book is for you. In simple, straight-forward language, this guide demystifies the often perplexing world of nonprofit governance in the age of Sarbanes-Oxley. Author, Jill Gilbert Welytok, an attorney who heads the Sarbanes-Oxley division of a major Midwest law firm, walks you step-by-step through the process of evaluating your governance structures. She arms you with tips and strategies for adopting uniform standards under current governance and tax laws, while preparing you for any upcoming changes. She shows you how to protect your tax status and reassure donors and volunteers while staying true to your organization's mission. And she fills you in on what you need to know to: • Comply with state laws and regulations • Get and keep tax—exempt status • Avoid lawsuits and other legal landmines • Handle the media • Anticipate future trends • Make sense of the Sarbanes—Oxley act Including sample nonprofit bylaws and a complete audit committee report, Nonprofit Law & Governance for Dummies, Second Edition is an indispensable survival tool for 21st century nonprofits.
