What Do Charlie Sheen and Non-Profit Law Have in Common?
Q: What do Charlie Sheen and Non-Profit Law have in Common?
A: Well, that’s an easy one. The laws and regulations related to the formation, tax exempt status, governance and compliance for a not for profit organization are not very forgiving.
That, fortunately, and as far as I can tell, is where the similarities end. Nonprofits are governed initially by the corporate statutes and regulations of the jurisdiction (state) in which they are formed. They are also overseen, as a matter of statutory and common law, by the attorney general of that state, as well as by the attorney general of each and every state in which that organization has activity or solicits funds. Finally, and not least of which, nonprofits that have obtained a Federal tax exemption, are subject to the jurisdiction of the Internal Revenue Service.
Do you see any other similarities?
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