Nonprofit Law Podcast #40: Due Diligence

Due Diligence

Download: Nonprofit Law Podcast #40 (mp3, 12:05)

Shownotes

Intro

Tim Mooney… Welcome to the Nonprofit Law Podcast
Your guide to the laws impacting nonprofits.
Shownotes…. nplawcast.com
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Due Diligence for Nonprofits

• Conflict of interest policy for board members, officers, and senior staff
• Whistleblower policy
• Document retention and destruction policy
• Gift acceptance policy
• Compensation policy
• Parent-subordinate consistency policy
• Contemporaneous documentation of meeting minutes of board and committees
• Compensation and Audit committees
• For grantmakers - Maintains records to substantiate the amount of the grants or assistance, the grantees’ eligibility
• for the grants or assistance, and the selection criteria used to award the grants or assistance.

Resources

American Council on Education - 501(c)(3) Due Diligence (PDF)

Closing
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This podcast provides general information about legal topics but it is not a complete discussion of all legal issues that arise in relation to nonprofits nor is it a substitute for legal advice. This podcast does not create an attorney-client relationship. This is general legal information and the contributors make no warranties regarding the general legal information provided in this podcast , and disclaim liability for damages resulting from its use to the fullest extent permitted by the applicable law