IRS Guidelines for Good Governance for 501(c)(3) Organizations is brought to you by Lorman
Gain a better understanding of the importance of good governance in the quest for improved tax-exempt compliance.
With increasing focus on transparency and accountability in nonprofit governance, many organizations are unsure of what is expected and how to achieve the ever increasing demands and standards set by the IRS and others who regulate or monitor the nonprofit sector. This topic explains what the IRS, state attorney generals and industry clearinghouse organizations (Guidestar, the Better Business Bureau, Charity Navigator) are expecting and demanding from today’s charities – those organizations that are tax-exempt under §501(c)(3) of the Internal Revenue Code. You will learn what the current expectations are, how to bring your organization into compliance with current best practices in nonprofit governance and position your organizations for success.
- You will be able to differentiate between the various duties of the Board.
- You will be able to identify Excess benefit transactions, intermediate sanctions, and disqualified persons.
- You will be able to recognize the primary responsibilities of the Board.
- You will be able to recognize the Business Rule.
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