Congratulations on becoming a Director!
Being a Director is not a casual commitment. You are now legally responsible for the actions of a Massachusetts Corporation. You, personally, can be held liable for certain actions. There is a lot to learn, but fortunately the material is not difficult, and there are lots of resources available to guide and assist. This page is set up to help you learn what you need to know. It will always be a work in progress. Always feel free to make recommendations!
Because the FoMC is a Massachusetts Corporation, it is subject to the laws of both the state and federal governments. The US government provides oversight through the IRS, whereas Massachusetts does through the Secretary of State, the Attorney General, and the Department of Revenue.
The IRS will be discussed here.
The MA Attorney General's office produced a publication "The Attorney General's Guide for Board Member of Charitable Organizations". This is a 16 page document in PDF format.
Massachusetts Continuing Legal Education, Inc, is a 501(c)(3) provides educational programs and reference materials. We bought one of their publications "Guidebook for Boards of Directors of Massachusetts Nonprofits". MCLE provides the first chapter free, and several of our Directors read it. We felt that it was easy to read and understand. The hard copy of the book is available at any time, and we made it available here too.
Because the FoMC is a Massachusetts Corporation, it is subject to the laws of both the state and federal governments. The US government provides oversight through the IRS, whereas Massachusetts does through the Secretary of State, the Attorney General, and the Department of Revenue.
The IRS will be discussed here.
The MA Attorney General's office produced a publication "The Attorney General's Guide for Board Member of Charitable Organizations". This is a 16 page document in PDF format.
Massachusetts Continuing Legal Education, Inc, is a 501(c)(3) provides educational programs and reference materials. We bought one of their publications "Guidebook for Boards of Directors of Massachusetts Nonprofits". MCLE provides the first chapter free, and several of our Directors read it. We felt that it was easy to read and understand. The hard copy of the book is available at any time, and we made it available here too.
