The charitable nonprofit form creates unique issues of corporate governance. Officers and directors owe fiduciary duties to their charitable institutions, and insolvency or reorganization complicates issues, particularly with regard to the handling of endowment funds. Donors can specify how gifts...

“The most useful and influential people in America are those who take the deepest interest in institutions that exist for the purpose of making the world better.” What Booker T. Washington recognized in 1901 holds true today. More than 25 percent of adults volunteer with nonprofit organizations,...

Disposing of assets of a nonprofit corporation, whether tax-exempt or taxable—or liquidating or dissolving such an entity—can be wrought with traps for those unfamiliar with the additional legal regimes and other considerations that overlay nonprofit organizations. Unlike their for-profit brethren...