Article Archives >> To the Point
Is there anything a nonprofit subsidiary can do to ward off a forced merger/consolidation with its nonprofit parent where the parent is the sole member of the subsidiary?
You raise my favorite question for nonprofits: Whose organization is it? (See Ready Reference Page "The Key Question: Whose Organization Is It?") Although the directors of the subsidiary have a fiduciary duty to the subsidiary, and not to the parent (See the story on the Illinois Clean Energy Community Foundation, Nonprofit Issues, January 16-31, 2005), as a practical matter, the parent can always find directors who will decide that a merger or consolidation with the parent is in the best interests of the subsidiary. In short, if you can't persuade the parent that it is not a good idea, either directly or by outside pressure from donors, clients, politicians or other influentials, the answer is ultimately No.
Article Archives >> To the Point
Top 10 Legal Issues in Fundraising Events:
Avoiding financial and public relations disaster
Pre-recorded Webinar -
Listen Today
Charity fundraising event planners have to worry not only about the invitation list, the menu and the program. They also have to worry about a host of legal issues that, if ignored, could turn the event into a financial and public relations disaster. This webinar will explore the top ten areas of legal concern for a charity’s annual gala dinner dance, bikathon, day in the park, or other special fundraising event. Learn more in our pre-recorded webinar.
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