VIDEO Q&A for Subscribers: October 2024 [SUBSCRIBERS-ONLY]
Ben and Mike answer questions from subscribers about managing staff concerns about the additional workload that may come from forming a new subsidiary or related entity, mid-year amendments to the annual budget, whether an organization should restore its good standing as a corporation prior to dissolving, and the distinction between restricted funds and Board-designated funds.
CHAPTERS:
00:00 - Intro
00:46 - Managing staff concerns about additional workload when forming a related entity
06:00 - New burdens on staff from having a related entity
09:35 - Whether to amend the annual budget for mid-year changes in grants or programming
16:40 - Rare situations where annual budgets are amended mid-year
17:47 - Whether to restore an inactive organization's corporate status prior to dissolution
22:43 - The distinction between restricted funds and Board-designated funds
26:12 - Setting aside funds for operating reserves and assessing old designations
FURTHER READING:
Time to Take a Fresh Look at Old Board-Designated Funds
Why and How Should a Nonprofit Form a Subsidiary?
Navigating the Nonprofit Dissolution Process
Three Tactics for Communicating Difficult Budget Issues to Your Board
