Governing Nonprofit Organizations: Federal and State Law and Regulation
The nonprofit sector is a vital component of our society and is allowed the greatest freedom to operate. The public understandably assumes that since nonprofit organizations are established to do good, the people who run nonprofits are altruistic, and the laws governing nonprofits have reflected this assumption. But as Marion Fremont-Smith argues, the rules that govern how nonprofits operate are inadequate, and the regulatory mechanisms designed to enforce the rules need improvement.\ Despite...
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The nonprofit sector is a vital component of our society and is allowed the greatest freedom to operate. The public understandably assumes that since nonprofit organizations are established to do good, the people who run nonprofits are altruistic, and the laws governing nonprofits have reflected this assumption. But as Marion Fremont-Smith argues, the rules that govern how nonprofits operate are inadequate, and the regulatory mechanisms designed to enforce the rules need improvement. Despite repeated instances of negligent management, self-interest at the expense of the charity, and outright fraud, nonprofits continue to receive minimal government regulation. In this time of increased demand for corporate accountability, the need to strengthen regulation of nonprofits is obvious. Fremont-Smith addresses this need from a historical, legal, and organizational perspective. She combines summaries and analysis of the substantive legal rules governing the behavior of charitable officers, directors, and trustees with descriptions of the federal and state regulatory schemes designed to enforce these rules. Her unique and exhaustive historical survey of the law of nonprofit organizations provides a foundation for her analysis of the effectiveness of current law and proposals for its improvement. Leslie Lenkowsky - Chronicle of Philanthropy This new book does not disappoint as it ranges widely from the history of rules about establishing charitable trusts and corporations, to the intricacies of the Internal Revenue Code, and on to the crazy quilt of state regulations regarding the duties of donors and trustees...The book should be essential reading and a reference for anyone responsible for--or just interested in--nonprofit governance, especially those trying to formulate new standards and regulations in response to the recent exposés of malfeasance in the sector.
Preface1The nonprofit sector in the twenty-first century12A brief history of the law of charities193Creation, administration, and termination of charities1164Fiduciary duties : state law standards1875The internal revenue code2386Regulation of charities in the states3017The role of the federal government in the regulation of charities3778Improving the law and regulation of charities428Appendix475Index of cases519General index525
\ Chronicle of PhilanthropyThis new book does not disappoint as it ranges widely from the history of rules about establishing charitable trusts and corporations, to the intricacies of the Internal Revenue Code, and on to the crazy quilt of state regulations regarding the duties of donors and trustees...The book should be essential reading and a reference for anyone responsible for--or just interested in--nonprofit governance, especially those trying to formulate new standards and regulations in response to the recent exposés of malfeasance in the sector.\ — Leslie Lenkowsky\ \
