North Carolina Nonprofit Law: A Concise Guide to Everything A Founder Needs to Know

Book Synopsis: North Carolina nonprofits are governed by the North Carolina Nonprofit Corporation Act. North Carolina Nonprofit Law summarizes the key provisions of the Act in easy-to-understand language. Written by Jacqueline D. Stanley, Esq. an attorney with over twenty years of experience helping North Carolina nonprofits to incorporate and obtain their 501(c)(3) tax exempt status, this guide focuses on the nuts and bolts information that founders of nonprofits need to know in order to avoid the hassles and expense associated with failing to comply with law. Stanley knows first-hand how hard founders work to start and grow their organizations, and wanted to write a concise guide to provide the essential information they need, so they can focus their energy and efforts on doing the work for which they created the nonprofit.

North Carolina Nonprofit Law not only defines important terms like "distributions," "conflict of interest," and "dissolutions," it also contains the following essential information:

• Differences between a for-profit organization and nonprofit organization
• Standards of conduct for board members
• The two types of conflict-of-interest financial transactions that are strictly prohibited
• Four things board committees and committee members are prohibited from doing
• Eight Corporate Powers that only the board of directors may exercise
• Changes that can and cannot be made to the quorum requirement
• The three documents that must be maintained as part of the organization's permanent records
• The four documents that must be maintained at the nonprofit's principal office
• Seven situations during which board members may be held personally liable for their actions—or failure to act—arising out of service as a board member
• The two instances in which a nonprofit is strictly prohibited from making distributions
• Six situations in which a nonprofit can be administratively dissolved by the Secretary of State
• Four situations when a nonprofit can be judicially dissolved by the Superior Court