Inside Business Law

Nonprofit Formation and Governance

At the recent ABA Annual Meeting in Chicago, the Pro Bono, Young Lawyer, and Nonprofit Organizations Committees presented a very useful program which addressed best practices in the formation of non-profit organizations, titled "One Foot in Front of the Other: Basics and Best Practices in Nonprofit Formation and Governance."
The program focused on basic concepts and best practices relating to nonprofit formation and governance, including identifying the organization's purpose and mission, choosing an appropriate legal entity, preparing governing documents, understanding tax exemption issues, navigating federal and state requirements, and strategic approaches to board composition and governance. An audio version of the program is also available.

Agreeing to act as a corporate secretary entails various responsibilities in connection with recordkeeping. At the recent ABA Annual Meeting, a distinguished panel of presenters addressed this topic and key principles and practices that every corporate secretary should know. The materials for this program include pointers on the proper incorporation and organization of a company, appropriately taking and documenting corporate action, common problems in issuing stock and stock options, as well as information concerning significant corporate actions and ratification. The presentation also is accompanied by an audio version.

At the recent ABA Annual Meeting, the Project Finance, Business Financing, Commercial Finance, and International Business Committees delivered an interesting presentation which addressed developing and financing stadiums and other sports facilities. Topics covered include recent sports venue transactions, factors to consider whether to pursue a new venue, sources of financing and public-private partnerships, and venue financing options and structure. An audio presentation is also available.