Welcome to your daily briefing on nonprofit developments in Alabama. Today we're covering 4 key stories including updates on alabama nonprofit headlines, background & context. Let's dive in.
2 stories
Explore comprehensive solutions and free resources to assist with fundraising, tax exemption, and other compliance activities for nonprofits in Alabama and nationwide.
These tools can help nonprofit professionals in Alabama streamline their compliance efforts and focus on their mission.
The federal government has allocated additional funding through grants for Alabama citizens and permanent residents.
These grants could provide crucial resources for nonprofits in Alabama looking to enhance their programs and services.
Reach professionals in this market
2 stories
The IRS-recommended COI policy requires (1) annual disclosure by all directors and key employees, (2) a process for review of any disclosed conflict, (3) recusal procedures, and (4) documentation in board minutes. Policies that have only the disclosure form without the review and recusal process do not satisfy the recommendation.
A weak COI policy is a Schedule L disclosure waiting to happen, and Schedule L disclosures correlate with future IRS examination selection.
Negligent-screening claims arise not from failing to have a screening policy, but from failing to follow the policy that exists. A documented policy with inconsistent enforcement is harder to defend than no policy at all, because the deviation is evidence of negligence.
Insurance carriers tighten coverage on organizations with screening-process gaps. The cost of consistent enforcement is small; the cost of a single uninvestigated incident can close the organization.
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