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How to Make Virtual Board and Committee Meetings More Effective
Articles A. Michael Gellman (CPA, CGMA) Articles A. Michael Gellman (CPA, CGMA)

How to Make Virtual Board and Committee Meetings More Effective

As the default format for Board and committee meetings has shifted to a virtual platform, nonprofit organizations must be careful to not let these regularly recurring governance meetings become stale and boring. It is time to freshen up these virtual governance meetings with a renewed focus on the smart use of time, attendee satisfaction, and maximizing impact and engagement.

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VIDEO PODCAST: Board Meeting Tips for Nonprofits
Subscribers-Only, Podcasts & Discussions, Videos A. Michael Gellman (CPA, CGMA) & Benjamin Takis Subscribers-Only, Podcasts & Discussions, Videos A. Michael Gellman (CPA, CGMA) & Benjamin Takis

VIDEO PODCAST: Board Meeting Tips for Nonprofits

Ben and Mike discuss tips and recommendations to help nonprofits make their Board meetings more efficient and impactful, including best practices related to advance notice and distribution of Board materials, creating a meeting agenda, use of a "consent agenda," and whether nonprofits should follow Robert's Rules of Order.

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Q&A #166 – Are new nonprofits required to file BOI reports under the Corporate Transparency Act?
Q&A, Articles Benjamin Takis Q&A, Articles Benjamin Takis

Q&A #166 – Are new nonprofits required to file BOI reports under the Corporate Transparency Act?

While the Corporate Transparency Act (“CTA”) exempts most tax-exempt organizations from the requirement to file beneficial ownership information (“BOI”) reports, there has been some confusion about whether these exemptions apply to new organizations that were just recently formed. A careful reading of the CTA statute and regulations strongly suggests that most newly formed nonprofit organizations are exempt from the BOI reporting requirements, even if their tax-exempt status has not yet been formally approved by the IRS.

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CHECKLIST: Virtual Board and Committee Meeting Tips [SUBSCRIBERS-ONLY]
Resources, Subscribers-Only A. Michael Gellman (CPA, CGMA) Resources, Subscribers-Only A. Michael Gellman (CPA, CGMA)

CHECKLIST: Virtual Board and Committee Meeting Tips [SUBSCRIBERS-ONLY]

The default format for traditional governance meetings (Boards of Directors, committees, working groups, etc.) has shifted to a virtual setting. However, most governance meetings still use agendas, approaches, and meeting structures based on old “in-person” meeting formats. This 4-page checklist is designed to help you freshen up your virtual Board and committee meetings, make them more effective, and improve participant engagement and satisfaction.

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VIDEO Q&A for Subscribers: August 2024 [SUBSCRIBERS-ONLY]
Videos, Video Q&As, Subscribers-Only A. Michael Gellman (CPA, CGMA) & Benjamin Takis Videos, Video Q&As, Subscribers-Only A. Michael Gellman (CPA, CGMA) & Benjamin Takis

VIDEO Q&A for Subscribers: August 2024 [SUBSCRIBERS-ONLY]

Ben and Mike answer questions from subscribers about whether fixed assets and restricted funds can count toward a nonprofit organization's operating reserves, the pros and cons of taking over an existing 501(c)(3) organization rather than starting a new one, how abstentions are counted in a Board vote, and whether an organization should use a credit card or debit card.

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The Fundamentals of the Unrelated Business Income Tax (UBIT)
Articles Benjamin Takis Articles Benjamin Takis

The Fundamentals of the Unrelated Business Income Tax (UBIT)

Business or “fee-for-service” revenue can be an important source of unrestricted funds for a well-rounded nonprofit organization. However, many organizations are hesitant to engage in commercial activities due to worries about the unrelated business income tax (“UBIT”). A basic understanding of UBIT fundamentals can alleviate these fears and help organizations to make better, more confident decisions about their business activities.

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VIDEO PODCAST: Why Nonprofits Should Have Operating Reserves
Subscribers-Only, Videos, Podcasts & Discussions A. Michael Gellman (CPA, CGMA) & Benjamin Takis Subscribers-Only, Videos, Podcasts & Discussions A. Michael Gellman (CPA, CGMA) & Benjamin Takis

VIDEO PODCAST: Why Nonprofits Should Have Operating Reserves

Ben and Mike discuss the reasons why operating reserves are essential for the financial health and sustainability of nonprofit organizations, the short-term and long-term purposes of operating reserves, lessons learned from past economic disruptions, and some recommendations for operating reserve policies.

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Q&A #165 – How often should a nonprofit CEO provide updates to the Board of Directors?
Q&A, Articles A. Michael Gellman (CPA, CGMA) Q&A, Articles A. Michael Gellman (CPA, CGMA)

Q&A #165 – How often should a nonprofit CEO provide updates to the Board of Directors?

Providing monthly Board reports that include financial reporting and progress updates is an established best practice, and this is especially recommended during periods of change and for organizations whose Boards meet quarterly or less frequently. However, CEOs and Executive Directors must be thoughtful about the frequency and their method of communicating with the Board. Providing updates more often than monthly is usually only recommended in unusual situations.

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Navigating the Nonprofit Dissolution Process
Articles Benjamin Takis Articles Benjamin Takis

Navigating the Nonprofit Dissolution Process

It is relatively common knowledge that dissolving a nonprofit organization is one of the most difficult decisions a Board of Directors may have to make. However, many people underestimate the careful planning, attention to detail, and commitment that is required to properly shut down and dissolve an organization. This process should start well before the filing of “Articles of Dissolution” and often continues in a post-dissolution “wind-up” period that can last for months or years.

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VIDEO Q&A for Subscribers: July 2024 [SUBSCRIBERS-ONLY]
Subscribers-Only, Videos, Video Q&As A. Michael Gellman (CPA, CGMA) & Benjamin Takis Subscribers-Only, Videos, Video Q&As A. Michael Gellman (CPA, CGMA) & Benjamin Takis

VIDEO Q&A for Subscribers: July 2024 [SUBSCRIBERS-ONLY]

Ben and Mike answer questions from subscribers about the definition of cash basis accounting and its consequences, implications of Board term holdover language and legal remedies to hold organizations accountable for not following their Bylaws, the benefits of tracking volunteer hours and what this means for an organization’s Form 990 and financial statements.

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How to Use Non-Traditional Communication Pathways to Enhance Board Member Engagement [SUBSCRIBERS-ONLY]
Subscribers-Only, Articles A. Michael Gellman (CPA, CGMA) Subscribers-Only, Articles A. Michael Gellman (CPA, CGMA)

How to Use Non-Traditional Communication Pathways to Enhance Board Member Engagement [SUBSCRIBERS-ONLY]

Always be on the lookout for proactive and unique communication opportunities to stimulate Board member interest in your nonprofit organization’s mission and activities, foster positive feelings, and generally catch their attention. Because we live in a world of constant change that is further complicated by Board turnover (new Board members entering while other Board members are exiting or rotating through officer positions) it is essential to be creative and flexible with Board member communications by incorporating both traditional and non-traditional tactics.

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TEMPLATE: Independent Contractor Agreement [SUBSCRIBERS-ONLY]
Resources, Subscribers-Only Benjamin Takis Resources, Subscribers-Only Benjamin Takis

TEMPLATE: Independent Contractor Agreement [SUBSCRIBERS-ONLY]

This independent contractor agreement template contains basic provisions for situations in which nonprofit organizations hire consultants and other service providers on an independent contractor (Form 1099) basis. The template includes language intended to help support independent contractor treatment when appropriate, and covers key terms such as confidentiality, intellectual property rights, insurance, indemnification, and more.

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VIDEO PODCAST: Bylaws Tips for Nonprofits
Subscribers-Only, Videos, Podcasts & Discussions A. Michael Gellman (CPA, CGMA) & Benjamin Takis Subscribers-Only, Videos, Podcasts & Discussions A. Michael Gellman (CPA, CGMA) & Benjamin Takis

VIDEO PODCAST: Bylaws Tips for Nonprofits

Ben and Mike discuss tips and recommendations to help nonprofit organizations build better Bylaws, such as establishing a schedule for regular review of the Bylaws, complying with state law requirements, addressing Board meeting formalities, notice, and quorum requirements, clarifying term limits language, and more.

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Q&A #164 – What happens if all Board member terms have expired?
Articles, Q&A Benjamin Takis Articles, Q&A Benjamin Takis

Q&A #164 – What happens if all Board member terms have expired?

It is unlikely that a nonprofit organization’s entire Board of Directors would be nullified due to a failure to hold elections, since most state nonprofit corporation statutes provide that Board service generally continues past the expiration of the Board member’s term until the Board member’s successor is elected and takes office. In the unlikely event that an organization truly has few or no Board members left to take action, there are often other mechanisms available under state law to reconstitute the Board or petition a court to appoint a legal representative.

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VIDEO Q&A for Subscribers: June 2024 [SUBSCRIBERS-ONLY]
Video Q&As, Videos A. Michael Gellman (CPA, CGMA) & Benjamin Takis Video Q&As, Videos A. Michael Gellman (CPA, CGMA) & Benjamin Takis

VIDEO Q&A for Subscribers: June 2024 [SUBSCRIBERS-ONLY]

Ben and Mike answer questions from subscribers about the responsibility of a Board of Directors to fill vacancies and how vacancy appointments count towards term limits, the Board's responsibilities regarding the use of large unexpected gifts and bequests, whether Board service can be reported as an in-kind contribution, and the distinction between policies and procedures that apply to Board and the staff.

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