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Nonprofit Basics: Insider Transactions and Nonprofits – What’s the Big Deal?

March 6, 2023 Podcast
EO Radio Show – Your Nonprofit Legal Resource

Welcome to EO Radio Show – Your Nonprofit Legal Resource. This is the first in a series of episodes covering the federal and state laws that apply to business transactions between a nonprofit and its insiders such as directors, executives, substantial contributors, and entities controlled by them.

In this episode, I provide a general overview of the federal laws. I talk about the rules that cover financial transactions that nonprofit directors, trustees, and executives should address carefully before they occur, and the penalties and other adverse consequences to an organization and its managers and insiders who violate these laws.

In the next few episodes, I'll cover the related topics of conflict of interest policies and best practices for approving insider compensation.

Resources:

IRS Resources on Rebuttable Presumption for Compensation

IRS Form 4720 and Instructions

California Form RRF-1 and Instructions

EO Radio Show EP. 5: Nonprofit Basics: Navigating the Complex Rules That Describe A Public Charity

EO Radio Show EP. 21: Loot and Private Foundation Rules – Part 1

EO Radio Show EP. 22: Loot and Private Foundation Rules - Part 2

If you have suggestions for topics you would like us to discuss, please email us at [email protected]

Additional episodes can be found at EORadioShowByFarella.com

DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.

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