Nonprofit and tax exempt organizations of every size are complex organizations. Boards of directors need to recruit and retain talented management, supervise the investment of endowments in often volatile markets, engage profit-making corporations in joint ventures, and ensure the integrity of systems and policies in environment of increased governmental and public scrutiny. Effective governance of these organizations is essential to advancing the nonprofit’s mission. When governance fails, the organization itself and its directors are exposed to potential liability. This program will provide you with a real-world guide to major governance issues for nonprofits, including fiduciary duties of directors and officers, managing endowments, executive compensation issues, compliance and conflicts of interest.
Governance issues for nonprofit organizations
Current IRS and attorneys general investigation and enforcement priorities
Best practices for determining executive compensation
Fiduciary duties, potential liability, and indemnification of nonprofit directors and officers
Joint ventures between nonprofits and profit-making ventures
Current issues in the investment management of endowments
Compliance issues, including Form 990
Michele A. W. McKinnon
is a partner in the Richmond, Virginia office of McGuireWoods, LLP, where she an extensive tax-exempt organization and charitable giving practice. She has more than 30 years’ experience representing public charities, major colleges and universities, supporting organizations, large private foundations, and charitable trusts. She is a Fellow in the American College of Trust and Estate Counsel and formerly served as its Virginia State Chair. Ms. McKinnon received her B.A. from the University of Virginia, her J.D., magna cum laude, from the University of Richmond School of Law, and her L.L.M. in taxation from the College of William & Mary Marshall-Wythe School of Law.
is a partner in the New York office of Dechert, LLP, where he specializes in tax issues related to non-profits and in the tax treatment of cross-border transactions. He advises hospitals and other health care providers, research organizations, low-income housing developers, trade associations, private foundations and arts organizations. He advises clients on obtaining and maintaining tax-exempt status, executive compensation, reorganizations and joint ventures, acquisitions, and unrelated business income planning. Mr. Lehmann received his A.B., magna cum laude, from Brown University, his J.D. from Columbia Law School, and his LL.M. from New York University School of Law.