Legal Considerations & Non-Profit Banking
Overview - Legal Considerations
Nonprofit legal process are a series of steps and considerations that organizations must adhere to in order to operate within proper legal boundaries. This process encompasses various aspects such as obtaining tax-exempt status, complying with state and federal regulations, drafting and implementing bylaws, registering with the appropriate authorities, and ensuring transparency in financial reporting.
Nonprofit organizations must also navigate complex legal issues related to fundraising, governance, employment law, intellectual property, and contracts. Overall, understanding and effectively managing the nonprofit legal process is essential for maintaining the integrity and sustainability of a nonprofit organization.
Objectives - Legal Considerations
Understand legal requirements relevant to nonprofit operations at federal, state, and local levels.
Maintaining tax exempt status under federal law.
Establish and implement effective conflict of interest policies to maintain transparency and integrity.
Train on legal requirements for fundraising activities (i.e., solicitation licenses, donor disclosures, compliance with donor restrictions).
Protect intellectual property.
Guide on drafting, reviewing, and negotiating contracts, partnerships, and agreements.
Overview - Non-Profit Banking
Relationship management in the banking industry is a crucial aspect that involves building and maintaining strong connections with clients. One such connection strengthens client implementation of proper fraud control — protocols and procedures instituted to safeguard financial assets.
We'll also cover nonprofit lending which involves assessing the social benefits, risk mitigation strategies, and regulatory considerations associated with providing financial assistance to nonprofit entities.
Lastly, we'll address why opening and maintaining a business checking account requires careful attention to detail to avoid common pitfalls.
Objectives - Non-Profit Banking
Learning Relationship Management in the banking industry.
Understanding Internal Banking Controls & the effects of fraud.
Understanding the banking rationale for nonprofit lending.
Learning the DO’s and DON’Ts of opening & maintaining a business checking account.
Facilitator
Bill Higley - Aegis Law
William Higley is a highly experienced attorney with over thirty years of practice in corporate and family estate planning law. He has also had extensive litigation and trial experience, including complex personal injury and chemical exposure lawsuits at both the Federal and state level. Bill’s practice also includes substantial experience in the areas of trusts, estate planning and taxation, and the licensing of intellectual property.
Bill previously worked in the law department of Monsanto, where he managed complex and multi district environmental insurance coverage litigation, and was responsible for Superfund environmental remediation projects at over one hundred thirty state and federal project sites. This level of exposure was reportable in the Company’s annual report to shareholders. Bill also handled regulatory matters, permits, and enforcement actions in all environmental media, OSHA, Industrial Hygiene, and internal compliance audit functions of the Company.
After leaving Monsanto in 1995, Bill concentrated his practice in estate planning, business, commercial and corporate organizations and matters, and obtained a Masters Degree in International Business from the Boeing Institute of International Business of the John Cook School of Business at St. Louis University. He obtained his law degree from St. Louis University School of Law in 1977 and is admitted to practice in the states of Missouri and Illinois, the United States District Courts in the Eastern and Western Districts of Missouri, the Eighth Federal Circuit Court of Appeals, and the United States Supreme Court and Tax Court.
In addition to his legal career, Bill is also the current President of the Board of Directors for Jazz St. Louis, an organization that promotes jazz music in St. Louis and brings live performances to the community. Bill’s passion for jazz music and his dedication to the community make his leadership of this organization particularly meaningful.
Bill resides in Chesterfield with his wife, Edith, and their two sons.
Co-Facilitator
Chris Dickey - Carrollton Bank
Chris is St. Louis born and raised graduating from St. Louis University with a Bachelors degree in Marketing. His experience ranges across a variety of banks in the metro St. Louis area including a five-year tenure at First Bank and a six-year tenure at Southwest Bank, which later became M & I Bank. Chris has been with Carrollton Bank as Senior Vice President, Commercial Banking Officer for thirteen years, specializing in commercial lending.
Happily married to Laura, together they have a daughter, Audrey who is thirteen.