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May 2014 » New York Nonprofit Revitalization...
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Ethan Kahn, CPA
On December 18, 2013, Governor Andrew M. Cuomo signed into law the New York Nonprofit Revitalization Act of 2013, the first major revision to the state's Not-for-Profit Corporation Law (NPCL) in more than 40 years. The act aims to improve the efficiency of administrative procedures in organizing nonprofits and to strengthen nonprofit governance and fiscal oversight. All of New York's nonprofits, as well as several out-of-state organizations that solicit contributions in New York, are subject to the new law's provisions, and many will have to take action to comply with them.
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