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Nonprofit Board Training

The Legal and Financial Fiduciary Duties of Board Members 

This Seminar trains board members on the Legal and Financial Fiduciary Duties of nonprofit board members and includes a legal update on the New York State Not-For-Profit Revitalization Act as it pertains to board Governance.

The program is designed for nonprofit board members, or future nonprofit board members, Executive Directors and/or staff. The Program is presented by Catherine M. Hedgeman, Esq. Ms. Hedgeman is the Owner of the Law Office of Catherine M. Hedgeman and is an expert in the areas of Nonprofit Law and Management and Governance. In addition to this program, Ms. Hedgeman also offers a customized four-hour training for nonprofit boards on the Legal and Financial Fiduciary Duties of Board members and Best Practices.

Course Topic Description 

I. Legal (1.5-2 hours -- add an hour if legal updates regarding the Revitalization Act are requested)
A. Three Duties and Legal Standard of Review of Board decisions
B. Identifying and dealing with Conflicts of Interest
C. Legal Governance Policy requirements (by-laws, COIP, Whistleblower, Document retention etc.) (this is a shortened version and does not include all NYS Revitalization Act updates)
D. Risk Management and Best Practices

II. Financial (2 hours -- a longer version is available which includes additional topics on: Lending/borrowing, financial management of grants and the Audit process)
A. General Financial duties of Board members
B. Financial Statements Review- What are they and how do I read them
C. The 990 and the boards’ obligation
D. The role of the Finance and Audit Committee and legal requirements
E. Best Practices in Financial Governance

Ms. Hedgeman also offers By-Law, Conflict of Interest and other Governance Policy Review and Revision Services.

 

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Please contact us for more information or to volunteer your time or services.


The Stakeholders, Inc.
PO Box 177,
Albany, NY 12159
(518) 573-3108

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