Top 5 Ways to Reduce Liability for Board Members

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Top 5 Ways to Reduce Liability for Board Members

Рет қаралды 1,070

Күн бұрын

So, here’s a question for you: Are you a risk taker? You might be more of one than you think if you’re sitting on a nonprofit board of directors.
📚 ADDITIONAL RESOURCES:
•VIDEO: Should You Incorporate Your New Nonprofit? • Should You Incorporate...
•VIDEO: Nonprofit Bylaws - The Dos and Don'ts • Nonprofit Bylaws - The...
•VIDEO: 6 Operating Policies Your Nonprofit Must Have • 6 Operating Policies Y...
•BLOG: Reducing Legal Liability for Nonprofit Board Members bit.ly/3LUEPOB
🏆 YOUR NEXT STEP:
•Fill out this form for a FREE consultation on how to start a nonprofit: bit.ly/3Tu9nYE
•Register for Fundraising TV: www.501c3.org/...
•Download the FREE eBook “10 Things You Need to Know Before Starting a Nonprofit” bit.ly/3XhFag0
0:00 Introduction
1:10 Incorporate Your Nonprofit
2:37 Directors/Officers Insurance
3:58 Have Great Polices
4:58 Gross Negligence
5:48 Have Checks and Balances
6:18 Conclusion

Пікірлер: 4

@FoundationGroup Жыл бұрын

If you need help filing for IRS 501(c)(3) status, we’d love to help. Fill out the form at bit.ly/3i6rFxz or give us a call at 888-361-9445.

@waynecmontgomery Жыл бұрын

Hello Greg, great video as always, and very informative. However, worth mentioning if your board is NOT paid, the federal government provides indemnity under the Volunteer Protection Act of 1997, however, there are limits to that law. Also, "some states" will provide liability protection for directors. States such as MA and VA, and many more, I would highly recommend charities read their states' nonprofit statutes along with federal law there are some limitations to these indemnifications. I would also recommend charity operators start their charities in a charitable immunity state such as MA, VA, NJ, and others again there are some limitations just my advice as a former 20-year plus out-of-work attorney. As a side note, I believe that you are a motorcycle guy 🤔🤣.

@gregmcray Жыл бұрын

Great points, Wayne. Yes, definitely a motorcycle guy...Kawasaki Ninja 1000 SX 🏍

@waynecmontgomery Жыл бұрын

@@gregmcray My old (law firm)boss loved Harley Davidson and hated when they started making their bikes overseas. he road to work every morning when the weather permitted in the northeast.