Author: Heshy Friedman

WHISTLEBLOWER RIGHTS AND NEW YORK NON PROFITS

Section 715-b of the New York Not-for-Profit Corporation Law (the “NPCL”) requires nonprofits with 20 or more employees and annual revenues in excess of one million dollars to adopt an explicit whistleblower policy to protect from retaliation persons who report suspected improper conduct. Nonprofits with fewer than 20 employees or with annual revenues lower than […]

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CORPORATE TRANSPARENCY ACT – A WORK IN PROGRESS

March  2021 On January 1, 2021 Congress passed the Corporate Transparency Act. The purpose of this Memorandum is to alert you to the forthcoming requirements. The Act requires corporations, limited liability companies, partnerships and similar entities registered with any state (including foreign entities which have registered in the United States) to file with the Department […]

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NON PROFITS- WHERE TO INCORPORATE- NEW YORK OR DELAWARE?

Nonprofits operating in New York or planning to operate in New York frequently assume that they have no choice but to incorporate in New York State. However, New York is not the only option. Delaware is becoming an increasingly popular choice for nonprofits because of the potentially friendlier legal regime. Governing Law New York has […]

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