Legal Checklist for Nonprofits

If you answered “no” or “not sure” to any of the following questions, Please contact M-LINC for advice.

• Does your organization follow the rebuttable presumption of reasonableness when approving compensation arrangements of key employees and other insider transactions?
• Does your organization need to complete the new Form 990-N (e-Postcard – an annual filing for nonprofits with normally $25,000 or less in gross receipts) or do you need guidance in answering questions relating to the new Form 990?
• Does your organization send written acknowledgements to donors who have made contributions of $250 or more or who have received some goods or services in return for their charitable contribution?
• Has your organization adopted a conflict of interest policy (with annual written disclosure statements) and educated its board of directors and employees about the parameters of this policy?
• Has your organization adopted a code of ethics that addresses issues of transparency, disclosure in fundraising solicitations, and integrity in governance?
• Has your organization adopted a whistleblower policy?
• Has your organization posted its Form 990, annual reports and financial statements on its website?
• Has your organization adopted and implemented a document retention policy?
• Has your organization adopted an expense reimbursement policy and have the organization’s employees been educated regarding the parameters of the policy?
• Has your organization drafted and implemented personnel policies, such as vacation, maternity leave, health insurance, evaluation and overtime compensation?
• Has your organization updated its bylaws in the past five years?
• Has your organization assessed what type of accounting policies and procedures are appropriate based on the organization’s size?