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NY AG, Lawmakers Propose Overhaul of Laws Governing Nonprofits (Business Journal Central New York)
NY AG, lawmakers propose overhaul of laws governing nonprofits5/15/2013 9:45:00 AM |
New York Attorney General Eric Schneiderman on Tuesday joined members of the state Senate and Assembly in proposing legislation to overhaul the laws governing New York’s nonprofit sector. The proposed Nonprofit Revitalization Act and Executive Compensation Reform Act would be the first “major reforms” to the state’s charities laws in more than 40 years, the attorney general’s office said in a news release. The proposals are meant to “make New York a model for nonprofit governance in the country, while cutting unnecessary red tape to better enable nonprofits to perform,” the statement said. New York’s nonprofit organizations are responsible for one in seven jobs in the state and generate hundreds of billions of dollars in annual revenue, according to the attorney general’s office. The lingering recession, slow economic recovery, and a series of weather-related disasters have provided financial, strategic, and governance challenges for nonprofits. “At the same time, the public’s trust in the nonprofit sector has ‘eroded,’ as stories of public officials and other people abusing charities have been uncovered,” according to the statement from the attorney general’s office. The Nonprofit Revitalization Act would require charities’ boards of directors to perform active oversight over financial audits. The nonprofit boards would be responsible for retaining independent auditors and reviewing results of the audit. Larger charities (those with more than $1 million in annual revenue) would be required to follow additional oversight procedures, according to the attorney general’s office. That same proposal would also require full disclosure of transactions between a nonprofit and insiders who stand to benefit. The provision is intended to prevent conflicts of interest. The nonprofit’s board of directors should also determine if the transaction is “fair, reasonable, and in organizations’ best interests,” as described in the attorney general’s statement. When a charity engages in a substantial transaction with an insider, the board will have to consider alternatives and document its basis for choosing the insider transaction, according to the attorney general’s office. The Nonprofit Revitalization Act would also streamline procedures for nonprofit mergers, property sales, and corporate dissolutions, according to Schneiderman. The Executive Compensation Reform Act is intended to “rein in excessive compensation,” he added. The proposal would require the boards of nonprofits to review and approve CEO compensation. Charities with annual revenue of more than $2 million will also have to review the compensation of their five highest-paid officers or key employees and compare it to the compensation provided at similar organizations, the attorney general said. From Business Journal Central New York (link) |
Sunday, May 19, 2013
27 Nonprofits Receive Retreat Grants from Omega
27 Nonprofits Receive Retreat Grants From Omega To Strategize On How to Survive and Keep Thriving
PRWeb
Published 5:00 pm, Thursday, May 16, 2013
PRESS RELEASE
The company that placed this press release with PRWeb is responsible for its content. It is not edited by the Albany Times Union.
Omega’s 9th Annual Service Week to Focus on Nonprofits Reinforcing a Broad Range of Social Services, Including Those Supporting Strength & Safety for Women & Girls in the Mid-Hudson Valley & Beyond.
RHINEBECK, New York (PRWEB) May 16, 2013
As service-oriented nonprofits struggle to survive in the current budget-slashing environment, Omega is offering 27 nonprofits the opportunity for much needed planning retreats where they can develop solutions to the challenge of balancing high demands and low resources. For the ninth consecutive year, Omega has offered grants to its nonprofit peers to participate in their own strategic planning retreats at Omega’s 200-acre campus in Rhinebeck, New York. Since its inception, approximately 184 organizations and 3,178 people have participated in this unique retreat grant program. Omega’s annual Service Weekis comprised of two sessions. The first session focuses on Mid-Hudson Valley nonprofits that address social service, social justice, and safety-net needs. The second session brings together nonprofits that serve women and girls for a unique experienced called the Women Serving Women Summit.
“At a time when nonprofits that provide safety net services are forced to do more with less, our Service Week grants provide a rare opportunity for these organizations to get out of the office and take a step back from the front line of their work to plan, network, and build capacity,” said Carla Goldstein, chief external affairs officer at Omega and cofounder of the Omega Women’s Leadership Center. “The 2013 Women Serving Women Summit focuses on organizations working to ensure the safety of women and girls since their well-being and ability to thrive is crucial to worldwide social, political, and economic development,” concluded Goldstein.
All grantees are awarded two-day, two-night organizational retreats that include free room and board, a private meeting space, use of all the facilities at Omega, and a consultation with Omega’s partner, the New York Council of Nonprofits (NYCON). NYCON will also host a roundtable on fundraising.
“The positive value and impact of Service Week on grantee nonprofits and the communities they serve becomes more evident each year. Today’s service and business challenges are many, and Omega has truly stepped up to help—contributing space, support, and opportunity that only Omega can provide,” saidDoug Sauer, chief executive officer of NYCON.
Omega’s Service Week program is divided into two distinct sessions:
Session 1) 9th Annual Service Week, May 27–May 29. For nearly a decade, Omega has been committed to serving those who serve others through its annual Service Week grant program. Grantee organizations can utilize the time to develop strategic plans, cultivate relationships among their board members and with other nonprofits on campus, re-engage with their mission statement, deepen staff cooperation, and enjoy some much needed peace and relaxation. Service Week is funded in part by a grant from the Dyson Foundation that supports Mid-Hudson Valley nonprofits.
“Our participation in Service Week truly set the foundation for development within our organization. The backbone for a broad organization strategic plan that we formed at Omega has positioned us to take important steps toward implementation,” said Milan Bhatt, executive director at Worker Justice Center of New York, participants in the 2012 Service Week.
Session 2) 3rd Annual Women Serving Women Summit, May 29–31. The only nonprofit leadership retreat of its kind, the Women Serving Women Summit, a convening of nonprofits working to improve the lives of women and girls, is an integral part of the Service Week program. Coordinated by the Omega Women’s Leadership Center, the theme of this year’s summit, Building Safety & Strength, brings together national and regional organizations serving the needs and interests of women and girls.
Read more: http://www.timesunion.com/business/press-releases/article/27-Nonprofits-Receive-Retreat-Grants-From-Omega-4522155.php#ixzz2Tl6lMvrI
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