Monday, July 18, 2011
Can my dad sign for my nonprofit?
Depending on the structure of your non-profit there is room for several officers with different titles and responsibilities. If your dad is willing to sign contracts and accept the legal responsibility you may want to designate him as the Chief Financial Office (CFO) if they are monetary contracts, or perhaps Chief Contracting Officer may be more appropriate. You could be the Director. If you create your nonprofit as a legal entity, then the organization will have first legal responsibility for fulfilling contracts, but your dad still may have some responsibility as the person who signed the contract, especially if you are borrowing money. Be sure to research the type of nonprofit status that will best serve your intended purpose. If you are going to ask for donations you may want to set up a 501 (c) (3) which enables donors to make tax deductible contributions. If you have not done all your research WIKIhow.com may be a good place to start. Good luck The PracticaL Mentor
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