A nonprofit tax-exempt status is a privilege:  It has to be earned and it needs to be maintained.  With privilege comes expectation and a nonprofit must know to whom it is accountable.  A myriad of agencies, statutes and individuals regulate a nonprofit’s activities.

BoardSource’s latest White Paper, “Regulating and Monitoring Nonprofits – Balancing Compliance and Best Practices”, sheds light on some of those bodies and regulations that oversee, sanction, guide or place specific expectations on nonprofits.  It is incumbent upon the board to be aware of these entities as part of its own primary duty of organizational oversight.

Read the full article here.