Below I have provided a link to a blog post by Eugene Fram. Eugene writes good materials for nonprofits. There have been rumblings for some time now about the possibility that a couple of states might start more actively overseeing nonprofits and their operations. And a few of the big players in the nonprofit community have suggested that more robust nonprofit governance might be beneficial. I ask that you click on the link below to Eugene’s post – although state action is unusual, the example situations that Eugene describes are less unusual. I am also updating my materials for nonprofit audit committees, which I will post soon.
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Every case situation is different. You do need to consult with professionals about your particular situation. This post is not a solicitation for services inside of or outside of California, and, of course, this post only is a summary of information that changes from time to time, and does not apply to any particular situation or to your specific situation. So . . . you cannot rely on this post for your situation.
Best to you, David Tate, Esq. (and inactive California CPA) – practicing in California only
Blogs: California trust, estate, and elder abuse litigation and contentious administrations http://californiaestatetrust.com; D&O, audit committee, governance and risk management http://auditcommitteeupdate.com