The By Laws Can't Say That
Regulations for Non-Profit Organizations Keep Changing
In addition to the new WISP regulations that are going into effect March 1, 2010, there have been significant regulatory changes that affect nonprofit organizations. Non-profit organizations are under increasing scrutiny from state and federal regulators and the public in general. The failure to have an appropriate governance structure in place can subject a non-profit organization, and its officers, directors, and senior managers to substantial liability exposure and negative media attention. It was even mentioned in the news recently that MA Attorney General Martha Coakley told Garden Clubs they need to comply with regulations.
Some of the biggest changes involve the WISP and conflict of interest policies for board members, however there are several areas that organizations need to keep up with current law, including:
- Board Structure
- Board Operations
- Corporate Compliance
- Risk Management
- Financial Oversight
- Board Composition
- Board Recruitment
We encourage all non-profit organizations to attend one of our mini-conferences to learn about regulatory compliance. If you can’t make it to one of them you could contact Mark Rodgers, one of our speakers, at The Rodgers Law Firm. They offer for a flat fee a Non-Profit Corporate Governance Audit Program that addresses compliance issues.
Want to learn more about regulations for Non-Profit Organizations? Join us at our next non-profit mini-conference.
Photo credit: http://www.flickr.com/photos/gak/172713466/
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