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About the Teleseminar
Governance of nonprofit and tax exempt organizations has only grown more challenging in recent years. Many nonprofits have had to modify their missions or merge with other organizations to survive. Managing endowments in a climate of extreme market volatility has become more complex and risky. The IRS and state attorneys general have become more exacting in examining nonprofits and the compliance burdens for organizations have grown more substantial. There are also the continuing challenges of attracting and retaining talented management to fulfill the nonprofit’s mission. This program will provide you with a real-world guide to major governance issues for nonprofits, including fiduciary duties of directors and officers, managing endowments, executive compensation issues, compliance and conflicts of interest.
- Understanding fiduciary duties (and liability) of nonprofit directors and officers
- Managing endowments in a climate of market volatility
- Conflicts of interest between the nonprofit and its officers and directors
- Issues related to doing business with profit-making ventures
- Compliance under federal tax law and state law, including Form 990
- Best practices for determining executive compensation
About the Speakers
Michele A. W. McKinnon is a partner in the Richmond, Virginia office of McGuireWoods, LLP, where she an extensive tax-exempt organization and charitable giving practice. She has more than 20 years’ experience representing public charities, major colleges and universities, supporting organizations, large private foundations, and charitable trusts. She is a Fellow in the American College of Trust and Estate Counsel and currently serves as its Virginia State Chair. Ms. McKinnon received her B.A. from the University of Virginia, her J.D., magna cum laude, from the University Of Richmond School Of Law, and her L.L.M. in taxation from the College of William & Mary Marshall-Wythe School of Law.
Michael Lehmann is a partner in the New York office of Manatt, Phelps & Phillips, LLP, where he specializes in tax issues related to non-profits and in the tax treatment of cross-border transactions. He advises hospitals and other health care providers, research organizations, low-income housing developers, trade associations, private foundations and arts organizations. He advises clients on obtaining and maintaining tax-exempt status, executive compensation, reorganizations and joint ventures, acquisitions, and unrelated business income planning. Mr. Lehmann received his A.B., magna cum laude, from Brown University, his J.D. from Columbia Law School, and his LL.M. from New York University School of Law.
Mandatory MCLE Credit Hours
This seminar qualifies for 1.0 MCLE Credit Hour (Tentative)