The decision to start a nonprofit requires careful consideration of purpose, statutory obligations and duty of care. Rucci Law Group helps nonprofit boards and executives achieve charitable goals by providing guidance relating to fiduciary and statutory responsibilities. In addition, RLG helps to define and preserve legal status and protect volunteers and staff from unnecessary liabilities. We are well equipped to provide guidance for smaller, volunteer run organizations and to meet the specific concerns of these entities. Many legal issues facing nonprofit organizations are similar to those of small businesses.
Key legal issues for nonprofits
- Organizational formation: Creating a legal structure that complies with tax laws and supports the charitable mission.
- Nonprofit status: Determining the organization’s need for nonprofit status and assistance preparing the application for recognition of exemption by the IRS.
- Life cycle planning: Creating board governance policies that allow for the transition of new leadership or the dissolution of the organization, while protecting board members from liability.
- Fiduciary and financial obligations of board members: Defining legal responsibilities and obligations in order to protect board members and officers from exposure to criminal and civil liabilities.
- Risk Management: Protecting the organization, directors, and officers from unnecessary risk of lawsuits.
- Insurance Planning: Advising on the suitability of directors and officers insurance.
- Conflict of Interest Transactions: Providing guidance on conflict of interest transactions, particularly involving transactions with related parties.
- Tax Planning Issues: Structuring foundations to meet charitable funding goals while planning for tax liabilities.
- Real Estate: Advising around issues of donations of real estate or management of conservation properties.
For more information, please contact Joseph J. Rucci Jr.