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Legal Foundations of Nonprofit Board Service

Legal Foundations of Nonprofit Board Service. The Appropriate Role of Nonprofit Board Directors. Mission Stewardship Chief Executive Oversight Evaluation Compensation. Directors’ Responsibilities. Due Care Active Participation Reasonable Inquiry Loyalty Conflicts of Interest

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Legal Foundations of Nonprofit Board Service

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  1. Legal Foundationsof NonprofitBoard Service

  2. The Appropriate Roleof Nonprofit Board Directors • Mission • Stewardship • Chief Executive • Oversight • Evaluation • Compensation

  3. Directors’ Responsibilities • Due Care • Active Participation • Reasonable Inquiry • Loyalty • Conflicts of Interest • Loans to Directors • Obedience • State and Federal Law • Mission

  4. Directors’ Rights • Access to Information • Access to Advisors • Right to Understand

  5. Federal Regulationof Nonprofits • Internal Revenue Service • IRC regulations • Sarbanes-Oxley Provisions • Pending Legislation • Federal Trade Commission • Interstate solicitation • Grantmaking Agencies

  6. Nonprofit Regulationin Oregon • Oregon Secretary of State, Corporation Division • Types of Nonprofit Corporations • Annual Report • Oregon Dept. of Justice, Charitable Activities Section • Public Benefit Corporations must register • Annual Financial Reports • Professional Fundraising • Charitable Gaming

  7. Other Duties • Update governing documents • Disclose public documents • Ensure adequate financial records and controls • Safeguard assets • Observe donor restrictions • Scrutinize solicitation activities • Prohibit political activity and limit lobbying • Ensure proper employment practices

  8. Recognizing Exceptional Boards • Constructive Partnership • Mission Driven • Strategic Thinking • Culture of Inquiry • Independent-Mindedness • Ethos of Transparency • Compliance with Integrity • Results Oriented • Continuous Learning • Revitalization

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