A conflict of interest arises whenever a person has two conflicting interests, and one of them benefits themselves. For example, if a board member is voting on whether or not the nonprofit should hire …
Difference Between a Nonprofit and a Charity
There is a difference between a nonprofit and a charity. If you're in the nonprofit field, you need to know the difference. What is a Nonprofit? In North Carolina, a nonprofit is any corporation …
Continue Reading about Difference Between a Nonprofit and a Charity →
Duty of Care
A Duty of Care is a legal duty that essentially means the an officer or director has to act reasonably careful when acting on behalf of the organization. However, it's a lot deeper than that. The Duty …
Duty of Loyalty
A Duty of Loyalty is a legal duty that essentially means the an officer or director cannot compete with the organization. However, it's a lot deeper than that. Legal Duties Firstly, a legal duty …
Difference Between a For Profit and a Nonprofit
When you consider starting a business, you should first know the difference between a for profit and a nonprofit company. There are only a few distinctions, but they make all the difference. The …
Continue Reading about Difference Between a For Profit and a Nonprofit →
What is a Nonprofit?
A nonprofit corporation is a separate legal entity in North Carolina. You can set them up for a wide variety of purposes. Most commonly, people think of charitable organizations as nonprofits. …