Nonprofit Law & Governance For Dummies [Paperback]

Jill Gilbert Welytok JD CPA (Author), Daniel S. Welytok JD (Author), U.S. Senator Chuck Grassley (Foreword)

Book Description

ISBN-10: 0470087897 | ISBN-13: 978-0470087893 | Publication Date: May 7, 2007 | Edition: 1

As the number and size of nonprofit organizations continues to grow, NFPs are coming under ever-increasing government scrutiny. Soon Congress will require that nonprofits comply with rigorous accounting and governance standards very similar to those set forth for for-profits in the Sarbanes-Oxley Act.

If you work for a nonprofit and are concerned about meeting impending changes to tax and finance standards governing NFPs this book is for you. In simple, straight-forward language, this guide demystifies the often perplexing world of nonprofit governance in the age of Sarbanes-Oxley. Author, Jill Gilbert Welytok, an attorney who heads the Sarbanes-Oxley division of a major Midwest law firm, walks you step-by-step through the process of evaluating your governance structures. She arms you with tips and strategies for adopting uniform standards under current governance and tax laws, while preparing you for any upcoming changes. She shows you how to protect your tax status and reassure donors and volunteers while staying true to your organization’s mission. And she fills you in on what you need to know to:

• Comply with state laws and regulations
• Get and keep tax–exempt status
• Avoid lawsuits and other legal landmines
• Handle the media
• Anticipate future trends
• Make sense of the Sarbanes–Oxley act

Including sample nonprofit bylaws and a complete audit committee report, Nonprofit Law & Governance for Dummies, Second Edition is an indispensable survival tool for 21^st century nonprofits.

Editorial Reviews

From the Back Cover

Includes sample nonprofit bylaws and audit committee report

Evaluate your governance structures and take the necessary steps to improve them

Work for a nonprofit? Worried about meeting impending tax and finance standards? Have no fear — this friendly guide demystifies the process, giving you tips and strategies for adopting uniform standards under current governance and tax laws. You'll see how to protect your tax status and reassure donors and volunteers while staying true to your organization's mission.

• Comply with state laws and regulations

• Get and keep tax-exempt status

• Avoid lawsuits and other legal landmines

• Handle the media

• Anticipate future trends

• Understand the Sarbanes-Oxley act

About the Author

Jill Gilbert Welytok, JD, CPA, LLM, practices in the areas of corporate law, nonprofit law, and intellectual property. She is the founder of Absolute Technology Law Group, LLC (www.abtechlaw.com). She went to law school at DePaul University in Chicago, where she was on the Law Review, and picked up a Masters Degree in Computer Science from Marquette University in Wisconsin where she now lives. Ms. Welytok also has an LLM in Taxation from DePaul. She was formerly a tax consultant with the predecessor firm to Ernst & Young. She frequently speaks on nonprofit, corporate governance–taxation issues and will probably come to speak to your company or organization if you invite her. You may e-mail her with questions you have about Sarbanes-Oxley or anything else in this book at [e-mail]. You can find updates to this book and ongoing information about SOX developments at the author’s website located at www.abtechlaw.com.

Daniel S. Welytok, JD, LLM, is a partner in the business practice group of Whyte Hirschboeck Dudek S.C., where he concentrates in the areas of taxation and business law. Dan advises clients on strategic planning, federal and state tax issues, transactional matters, and employee benefits. He represents clients before the IRS and state taxing authorities concerning audits, tax controversies, and offers in compromise. He has served in various leadership roles in the American Bar Association and as Great Lakes Area liaison with the IRS. He can be reached at [e-mail].

Product Details

• Paperback: 364 pages
• Publisher: For Dummies; 1 edition (May 7, 2007)
• Language: English
• ISBN-10: 0470087897
• ISBN-13: 978-0470087893
• Product Dimensions: 9.2 x 7.4 x 0.8 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 3.7 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #103,017 in Books (See Top 100 in Books)

More About the Author

I'm a patent and trademark attorney in Milwaukee, Wisconsin. I've written Independent Inventors' Handbook, The Entrepreneur's Guide to Patents, Copyrights, Trademarks,Tradesecrets and Licensing (Penguin/Putnam Press 2004) and Sarbanes-Oxley for Dummies (Wiley & Sons 2006).

My firm Absolute Technology Law Group, LLC currently represent over 200 private sector clients, as well as federal research institutions and individuals. We have offices in Milwaukee Wisconsin and in Fairfax, Virgina near the United States Patent Office.

If you are a business, corporate counsel or individual with patent questions please check out my website at www.abtechlaw.com for updates to my books and to the changing patent law scene.

Customer Reviews

Most Helpful Customer Reviews

14 of 14 people found the following review helpful:

4.0 out of 5 stars Made me feel much better prepared., December 27, 2007

By 

Timothy Berglund (Littleton, CO) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Nonprofit Law & Governance For Dummies (Paperback)

A very helpful book for anyone starting, operating, or directing a small nonprofit. It covers some material (e.g., SOX compliance, foundation structure) which I suspect would only be useful to people who are more likely to hire a lawyer than read a For Dummies book; however, much of it is quite applicable to small churches, community organizations, or other small-scale operations. Hopefully the executive director of the American Red Cross has moved on to more advanced texts.

Broadly, the book deals with two topics: the regulatory interfaces a non-profit must be prepared to navigate and how a non-profit should be structured from the standpoint of strategic management. If you are starting from near-zero knowledge of these two topics, you will end up feeling much better prepared when you're done.

My primary interest in reading the book was to be better informed about a professional association I have recently become involved with. Most of the book--and indeed, most of the non-profit sector--is geared toward traditional charitable organizations, but it does go to lengths to explain the differences between the different kinds of of non-profit structures recognized by the IRS. I'm glad to have read it.

(Note that I'm neither a tax lawyer nor a CPA, so I only *feel* like I've been helped. Still, I trust Wiley to have vetted their authors well.)

1 of 1 people found the following review helpful:

3.0 out of 5 stars Good Overview/Start, December 10, 2009

By 

Al R. (Glenside, PA USA) - See all my reviews

Amazon Verified Purchase

This review is from: Nonprofit Law & Governance For Dummies (Paperback)

This book is a good overview, if you are just starting, but you will need other references for more indepth knowledge to understand the subject adequately.

1 of 2 people found the following review helpful:

4.0 out of 5 stars Very Pleased, March 9, 2009

By 

Cathleen Miller (PA, USA) - See all my reviews
(REAL NAME)   

This review is from: Nonprofit Law & Governance For Dummies (Paperback)

I was very pleased with this book. It is full of important information and explained in a very clear and easily understood way. I definately recommend this book for anyone who is starting up, or already involved with a non profit looking to better understand the process.