Olsen Thielen Advisor Blog

State law typically specifies the minimum number of directors a not-for-profit must have on its board. In Minnesota, that minimum is three members. But so long as organizations fulfill that requirement, it’s up to them to determine how many total board members they need.

If your top executive were to step down tomorrow, would your not-for-profit know how to make a smooth leadership transition or would your boat suddenly be rudderless? Fortunately, creating a succession plan isn’t as difficult as you might think.

If your not-for-profit suffers from a chronic volunteer shortage or has had to put off large projects for lack of helping hands, corporate volunteer partnerships can be a boon. Teaming up with a well-known company can also raise your nonprofit’s profile with potential donors and the media.

There's some new ways for you to reduce your nonprofit's filing burden if you are thinking about merging or otherwise restructuring. Recently, the IRS made the process easier for some organizations.

Your organization's annual report is of particular interest to stakeholders such as donors, grant makers, clients, volunteers, watchdog groups and the government. 

Many business decisions may offer an advantage to your nonprofit organization but on the flip side many times carries risk. For instance, if your not-for-profit owns its own facility, most likely you have more control over your work space than if you lease.  However, ownership carries risks and leasing can provide

The executive director and managers of not-for-profit organizations need to ensure that their board receives the information they need to fulfill their fiduciary duties.