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Nonprofit Management > Exam 1 > Flashcards

Exam 1 Flashcards

1
Q

Characteristics of Nonprofit management

A

mission based, nondistribution clause, employees are volunteers mainly, corporation with special tax status

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2
Q

Salamon’s Definition of Nonprofits

A 
Formal Organization
Nonprofit distributing
Private 
Self-governing
Voluntary
Public Good
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3
Q

Elizabethan Statute of Charitable Uses

A

British Colonial
tax break given to charities
imported the idea to US gov’t taxcode

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4
Q

Dartmouth v Woodward

A

nonprofits free of gov’t control, legislature wanted control of Dartmouth (originally contract w/ King of England

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5
Q

British Colonial Era

A

Elizabethan Statute - tax deductions/ Poverty & Education

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6
Q

New Republic Era

A

Separation of church & state

Dartmouth v Woodward

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7
Q

19th Century

A

arts & museums (Smithsonian)

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8
Q

1900-1960

A

1913 Tax Exemption for Nonprofits
1917 Tax Deduction for Donations
Science & Research categories added

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9
Q

1960-2000

A

Up federal funding
Up earned income (tuitions, hospital fees, etc)
explosive growth
secularization

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10
Q

2000-Present

A

Sector blending

nonprofits more business like

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11
Q

Federal Legal System

A

federal courts enforce federal law and interstate trade

state courts enforce state law and crimes, instrastate trade

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12
Q

Common Law

A

based on judicial decisions
precedence and rulings
not paying for cow - law
defective cow - new law

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13
Q

Legislated Law

A

constitution
overrules common law
statute
regulation

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14
Q

1st Amendment

A

Free Speech
Right to Assembly - Association
Free exercise (religion)

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15
Q

10th Amendment

A

any power not claimed by fed gov’t
goes to state
nonprofits are state incorporated

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16
Q

Persons

A

sued, owned property, taxed, natural rights

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17
Q

Corporations

A

sued, own property, taxed, Statutory rights

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18
Q

Trusts

A

Trustees sued, trustees own property, taxed, statutory rights

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19
Q

Civil Claims

A

tort - wrongful act - injury occurs
contract - agreement with promise to exchange
statutory claim - legal claim because of legislature

20
Q

Standing - right to pursue

A

personal claim
unlawful cause
chance for “relief”

21
Q

jurisdiction

A

authority to enforce law

22
Q

Justiciability - matters that a court can rule on

A

nonadvisory - decision makes a difference
plaintiff has standing
ripeness & mootness (controversy hasn’t been resolved)
not political

23
Q

Coporation Structure

A

shareholders

24
Q

Nonprofit Structure

A

Possible Members

25
Q

Normal Trusts

A

Settlor - Trustee - Beneficiaries

26
Q

Nonprofit Trusts

A

Settlor - Trustee - Charitable purpose or Beneficiary class

27
Q

Corporate Veil

A

personal assets protected

can be pierced

28
Q

Corporate Formalities

A

requirements must be met to maintain status

29
Q

Bylaws

A

rules not filed with state

board operations, executive & misc operations

30
Q

Cypres

A

if trust purpose is thwarted, court can change to approximate original intent

31
Q

Coporation

A

formal entity, complicated formalities, corp veil, owned and unowned

32
Q

Benefit Corporation

A

formal entity, complicated formalities, corp veil, owned

33
Q

Association

A

informal entity, no formalties, no veil, unowned

34
Q

Trust

A

informal entity, complicated, no veil, specially owned

35
Q

LLC

A

formal entity, simple formalities, corp veil, owned

36
Q

L3C

A

formal entity, simple formalities, corp veil, owned

37
Q

Benefit LLC

A

formal entity, simple formalities, corp veil, owned

38
Q

Board Of Directors requirement

A

18 years or older
time/talent/treasure
no special ruling preventing it
should be a donor, come to meetings, diversity, connected, mission commitment

39
Q

Director Selection Process

A

board of directors hires, fires, determines compensation

40
Q

Good Governance

A

Public Discourse - tell donors what they should know
Diligent Board of Directors - come to meetings
Conflict of Interest Policy - know it’s working if brought to boards attention
Rigorous Financial Accounting
Appropriate Program Expenses 3:| ratio overhead
Ethical Fundraising $2 to $1
Donor Privacy - trustworthy

41
Q

Duty of Loyalty

A

no self dealing - can’t use corp. assets to personally benefit financially, BYU says no food reward programs
disclosure of competitive endeavors (corporate opportunity doctrine)

42
Q

Duty of Care

A

“reasonable care”

be informed - don’t make decisions like a villain (bad faith) Business Judgement Rule

43
Q

Principal Agent Relationship

A

Principal gives authority to agent to act

principal bound by agents torts and contracts

44
Q

Express

A

outlined boundaries/limitations on authority

45
Q

Implied

A

agency by implication/assumption not expressed, but understood

46
Q

Appareat

A

3rd party has good reason to believe in agent’s authority, appearance of agency

47
Q

Volunteers

A

can be agents

Nonprofit Management (3 decks)

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