What are the pro and cons in being a Board of Director in a nonprofit organization?
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What are the pro and cons in being a Board of Director in a nonprofit organization?
Such as:-What are the liabilities (financially and character).-Can we be sued personally-Any tax advantages or not-What type of reporting is required for our personal taxes with the IRS.-Why is our SSN needed in the Articles of Incorporation for a 501c3 status?
Asked on June 11, 2009 under Business Law, Illinois
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
These are questions that depend on what board, if your state regulates such board in any way shape or form and what decisions you make.
Call a non profit lawyer or legal aid to review the implications for you based on what you have, what you know, what board, and the type of decisions to be made. Try www.attorneypages.com.
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