Spring Cleaning? Maybe it is also time to review your Not-For Profit’s governing documents to ensure you are compliant with recent changes to New York State Law?

If you are anything like me, it is that time a year where, with great reluctance, I finally give into my wife’s requests to clean out and reorganize the cabinets, closets and garage as part of some much needed spring cleaning.

Perhaps it is finally time that your Not-for-Profit Board also considers reviewing its governing documents, including its Bylaws, employee handbook, conflict of interest policy, whistleblower policy and investment management policy.

In 2010 and 2014, New York State implemented numerous changes to not-for-profit governance by adopting the Nonprofit Revitalization Act of 2013 and the New York Prudent Management of Institutional Funds Act of 2010. Since then, there have been several important updates and revisions, which may directly impact your organization. If you have not done so already, it may be time to review your organization’s documents.

Please do not hesitate to contact one of our attorneys if you have any questions. The following newsletters highlight some of the changes adopted by the Act of 2013 and the subsequent updates.

http://www.hhk.com/files/3614/3283/8087/HHK_June2014_NewsletterREV.pdf

http://www.hhk.com/files/7114/5978/4713/April_2016.pdf

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