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Nonprofit Management > Exam 1 > Flashcards

Exam 1 Flashcards

(47 cards)

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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

Study These Flashcards
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

Study These Flashcards
A

personal claim
unlawful cause
chance for “relief”

21
Q

jurisdiction

Study These Flashcards
A

authority to enforce law

22
Q

Justiciability - matters that a court can rule on

Study These Flashcards
A

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

23
Q

Coporation Structure

24
Q

Nonprofit Structure

Study These Flashcards
A

Possible Members

25
Normal Trusts
Settlor - Trustee - Beneficiaries
26
Nonprofit Trusts
Settlor - Trustee - Charitable purpose or Beneficiary class
27
Corporate Veil
personal assets protected | can be pierced
28
Corporate Formalities
requirements must be met to maintain status
29
Bylaws
rules not filed with state | board operations, executive & misc operations
30
Cypres
if trust purpose is thwarted, court can change to approximate original intent
31
Coporation
formal entity, complicated formalities, corp veil, owned and unowned
32
Benefit Corporation
formal entity, complicated formalities, corp veil, owned
33
Association
informal entity, no formalties, no veil, unowned
34
Trust
informal entity, complicated, no veil, specially owned
35
LLC
formal entity, simple formalities, corp veil, owned
36
L3C
formal entity, simple formalities, corp veil, owned
37
Benefit LLC
formal entity, simple formalities, corp veil, owned
38
Board Of Directors requirement
18 years or older time/talent/treasure no special ruling preventing it should be a donor, come to meetings, diversity, connected, mission commitment
39
Director Selection Process
board of directors hires, fires, determines compensation
40
Good Governance
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
Duty of Loyalty
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
Duty of Care
"reasonable care" | be informed - don't make decisions like a villain (bad faith) Business Judgement Rule
43
Principal Agent Relationship
Principal gives authority to agent to act | principal bound by agents torts and contracts
44
Express
outlined boundaries/limitations on authority
45
Implied
agency by implication/assumption not expressed, but understood
46
Appareat
3rd party has good reason to believe in agent's authority, appearance of agency
47
Volunteers
can be agents

Nonprofit Management (3 decks)

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