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personally liable

By Drache Aptowitzer LLP | 2 Minutes Read October 15, 2013

Credit-proofing charity assets

Most charities and not-for-profit organizations are incorporated as non share capital corporations. These corporations are considered separate legal entities from their members or directors. This 'separateness' protects the members (and to a large extent directors) from being personally liable in the event the organization finds itself liable for damages as a result of a court finding.

Article by Drache Aptowitzer LLP / Business, Finance and Accounting, Not for Profit / accountability, administrative burdens, charities, control provisions, corporate entities, corporate law, corporations, director liability, Drache Aptowitzer LLP, filing requirements, membership issues, non share capital corporations, not-for-profit organizations, organizational structure, parent corporation, personal injury, personally liable, piercing the corporate veil, property damage, Reporting, separate legal entities, staffing and management

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